Motorsport Games Inc. (NASDAQ:MSGM) Sees Large Decline in Short Interest

Motorsport Games Inc. (NASDAQ:MSGM) was the recipient of a significant drop in short interest during the month of March. As of March 13th, there was short interest totaling 21,749 shares, a drop of 36.9% from the February 26th total of 34,485 shares. Approximately 0.4% of the company’s shares are sold short. Based on an average trading volume of 277,274 shares, the short-interest ratio is currently 0.1 days.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MSGM. Wall Street Zen upgraded shares of Motorsport Games from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 14th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Motorsport Games in a report on Monday, December 29th. One investment 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 Stock Down 1.4%

NASDAQ MSGM opened at $4.12 on Friday. Motorsport Games has a 52 week low of $0.73 and a 52 week high of $5.41. The business has a 50 day moving average price of $3.86 and a 200-day moving average price of $3.18. The company has a market cap of $23.81 million, a price-to-earnings ratio of 2.86 and a beta of 1.79.

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 company had revenue of $3.85 million for the quarter.

Insider Transactions at Motorsport Games

In other Motorsport Games news, major shareholder Mike Zoi sold 90,900 shares of the company’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $4.49, for a total value of $408,141.00. Following the sale, the insider owned 1,245,364 shares in the company, valued at approximately $5,591,684.36. The trade was a 6.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last three months, insiders sold 321,537 shares of company stock worth $1,348,505. 4.58% of the stock is owned by company insiders.

Hedge Funds Weigh In On Motorsport Games

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

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).