Motorsport Games (NASDAQ:MSGM) Downgraded to “Buy” Rating by Wall Street Zen

Wall Street Zen lowered shares of Motorsport Games (NASDAQ:MSGM) from a strong-buy rating to a buy rating in a report released on Saturday.

Motorsport Games Stock Performance

MSGM opened at $4.50 on Friday. Motorsport Games has a 1-year low of $2.11 and a 1-year high of $5.56. The stock has a market capitalization of $26.01 million, a price-to-earnings ratio of 3.85 and a beta of 1.73. The business has a 50 day moving average of $4.24 and a 200-day moving average of $3.56.

Motorsport Games (NASDAQ:MSGM) last posted its quarterly earnings data on Wednesday, May 13th. The company reported $0.07 earnings per share for the quarter. Motorsport Games had a return on equity of 87.43% and a net margin of 45.70%.The company had revenue of $4.03 million during the quarter.

Insider Buying and Selling at Motorsport Games

In other news, major shareholder Mike Zoi sold 904,395 shares of the stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $4.11, for a total value of $3,717,063.45. Following the completion of the sale, the insider directly owned 254,453 shares of the company’s stock, valued at approximately $1,045,801.83. This represents a 78.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 1,225,932 shares of company stock valued at $5,065,568 over the last three months. 4.59% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC lifted its position in Motorsport Games by 43.8% in the first quarter. Renaissance Technologies LLC now owns 27,600 shares of the company’s stock worth $113,000 after purchasing an additional 8,400 shares during the period. XTX Topco Ltd bought a new position in Motorsport Games in the fourth quarter worth $34,000. HRT Financial LP bought a new position in Motorsport Games in the fourth quarter worth $37,000. Dimensional Fund Advisors LP bought a new position in Motorsport Games in the third quarter worth $46,000. Finally, State Street Corp bought a new position in Motorsport Games in the fourth quarter worth $39,000. 1.66% of the stock is 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).