Motorsport Games (NASDAQ:MSGM) Stock Rating Upgraded by Wall Street Zen

Motorsport Games (NASDAQ:MSGM) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Saturday.

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of Motorsport Games in a report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Motorsport Games Trading Up 8.5%

Shares of NASDAQ MSGM opened at $4.08 on Friday. The stock’s 50-day moving average is $3.67 and its 200 day moving average is $3.10. The stock has a market cap of $23.58 million, a price-to-earnings ratio of 2.83 and a beta of 1.79. Motorsport Games has a 1-year low of $0.73 and a 1-year high of $5.41.

Motorsport Games (NASDAQ:MSGM) last issued its earnings results on Tuesday, March 10th. The company reported $0.15 earnings per share (EPS) for the quarter. Motorsport Games had a return on equity of 129.70% and a net margin of 61.31%.The business had revenue of $3.85 million during the quarter.

Insider Buying and Selling at Motorsport Games

In related news, major shareholder Mike Zoi sold 31,131 shares of the stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $4.51, for a total transaction of $140,400.81. Following the completion of the sale, the insider directly owned 1,158,848 shares in the company, valued at $5,226,404.48. This represents a 2.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders sold 321,537 shares of company stock valued at $1,348,505. Insiders own 17.34% of the company’s stock.

Hedge Funds Weigh In On Motorsport Games

A number of large investors have recently bought and sold shares of MSGM. Heron Bay Capital Management bought a new stake in Motorsport Games in the second quarter valued at approximately $132,000. Dimensional Fund Advisors LP bought a new position in shares of Motorsport Games in the third quarter worth approximately $46,000. State Street Corp bought a new position in shares of Motorsport Games in the fourth quarter worth approximately $39,000. HRT Financial LP purchased a new position in shares of Motorsport Games in the fourth quarter worth $37,000. Finally, XTX Topco Ltd purchased a new position in shares of Motorsport Games in the fourth quarter worth $34,000. 1.66% of the stock is owned by hedge funds and other institutional investors.

Motorsport Games Company Profile

Motorsport Games, Inc is a publicly traded developer and publisher of interactive motorsport entertainment, headquartered in Miami, Florida. The company specializes in creating officially licensed racing simulation titles and managing associated esports competitions. By focusing exclusively on the motorsport genre, Motorsport Games aims to deliver authentic digital experiences that mirror the rules, tracks and vehicles of real-world racing series.

The company’s core activities include the development of video games under licenses from major sanctioning bodies such as NASCAR, the Fédération Internationale de l’Automobile (FIA) and International Motor Sports Association (IMSA).