Motorsport Games (NASDAQ:MSGM) Major Shareholder Mike Zoi Sells 48,909 Shares of Stock

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Mike Zoi sold 48,909 shares of the stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $3.59, for a total transaction of $175,583.31. Following the transaction, the insider owned 1,426,517 shares in the company, valued at approximately $5,121,196.03. The trade was a 3.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Mike Zoi also recently made the following trade(s):

• On Tuesday, February 24th, Mike Zoi sold 8,960 shares of Motorsport Games stock. The stock was sold at an average price of $3.62, for a total value of $32,435.20.
• On Friday, February 20th, Mike Zoi sold 4,959 shares of Motorsport Games stock. The shares were sold at an average price of $3.29, for a total value of $16,315.11.

Motorsport Games Trading Up 4.7%

MSGM opened at $3.68 on Wednesday. The firm has a market cap of $21.24 million, a price-to-earnings ratio of 9.19 and a beta of 1.76. Motorsport Games Inc. has a 12 month low of $0.73 and a 12 month high of $5.41. The stock has a fifty day moving average price of $3.43 and a 200-day moving average price of $3.01.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on MSGM shares. Wall Street Zen upgraded Motorsport Games to a “buy” rating in a research report on Saturday, January 31st. Weiss Ratings reissued a “hold (c-)” rating on shares of Motorsport Games in a report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Motorsport Games has an average rating of “Hold”.

Institutional Investors Weigh In On Motorsport Games

Institutional investors and hedge funds have recently modified their holdings of the stock. XTX Topco Ltd bought a new stake in shares of Motorsport Games in the fourth quarter valued at about $34,000. HRT Financial LP bought a new position in Motorsport Games in the fourth quarter valued at $37,000. State Street Corp acquired a new stake in Motorsport Games in the 4th quarter valued at $39,000. Dimensional Fund Advisors LP bought a new stake in Motorsport Games during the 3rd quarter worth about $46,000. Finally, Heron Bay Capital Management acquired a new position in shares of Motorsport Games during the 2nd quarter worth about $132,000. 1.66% of the stock is owned by institutional investors and hedge funds.

About Motorsport Games

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).