Motorsport Games (NASDAQ:MSGM) Major Shareholder Mike Zoi Sells 6,500 Shares of Stock

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Mike Zoi sold 6,500 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $3.74, for a total transaction of $24,310.00. Following the completion of the transaction, the insider owned 1,388,474 shares in the company, valued at approximately $5,192,892.76. The trade was a 0.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Wednesday, March 4th, Mike Zoi sold 40,535 shares of Motorsport Games stock. The stock was sold at an average price of $4.03, for a total transaction of $163,356.05.
• On Tuesday, March 3rd, Mike Zoi sold 11,675 shares of Motorsport Games stock. The stock was sold at an average price of $3.77, for a total transaction of $44,014.75.
• On Friday, February 27th, Mike Zoi sold 9,603 shares of Motorsport Games stock. The shares were sold at an average price of $3.71, for a total transaction of $35,627.13.
• On Thursday, February 26th, Mike Zoi sold 5,059 shares of Motorsport Games stock. The stock was sold at an average price of $3.52, for a total transaction of $17,807.68.
• On Wednesday, February 25th, Mike Zoi sold 9,362 shares of Motorsport Games stock. The shares were sold at an average price of $3.58, for a total value of $33,515.96.
• 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 Monday, February 23rd, Mike Zoi sold 48,909 shares of Motorsport Games stock. The shares were sold at an average price of $3.59, for a total value of $175,583.31.
• On Friday, February 20th, Mike Zoi sold 4,959 shares of Motorsport Games stock. The stock was sold at an average price of $3.29, for a total value of $16,315.11.

Motorsport Games Stock Up 10.4%

Shares of NASDAQ MSGM traded up $0.42 during trading on Thursday, reaching $4.47. 447,829 shares of the company traded hands, compared to its average volume of 87,093. The firm has a 50 day simple moving average of $3.51 and a 200-day simple moving average of $3.03. Motorsport Games Inc. has a 52-week low of $0.73 and a 52-week high of $5.41. The stock has a market capitalization of $25.84 million, a PE ratio of 11.18 and a beta of 1.79.

Hedge Funds Weigh In On Motorsport Games

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

Wall Street Analysts Forecast Growth

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

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).