Insider Buying: Motorsport Games (NASDAQ:MSGM) Major Shareholder Buys $13,024.00 in Stock

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Red Oak Partners, Llc acquired 3,200 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was purchased at an average price of $4.07 per share, with a total value of $13,024.00. Following the completion of the acquisition, the insider directly owned 287,673 shares of the company’s stock, valued at $1,170,829.11. This represents a 1.12% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Red Oak Partners, Llc also recently made the following trade(s):

• On Thursday, July 2nd, Red Oak Partners, Llc bought 12,737 shares of Motorsport Games stock. The shares were acquired at an average price of $4.14 per share, for a total transaction of $52,731.18.
• On Tuesday, June 30th, Red Oak Partners, Llc purchased 27,744 shares of Motorsport Games stock. The stock was acquired at an average price of $3.95 per share, with a total value of $109,588.80.

Motorsport Games Stock Performance

Shares of MSGM opened at $4.32 on Thursday. The company has a 50 day moving average price of $4.34 and a 200-day moving average price of $3.95. Motorsport Games Inc. has a fifty-two week low of $2.11 and a fifty-two week high of $5.56. The stock has a market capitalization of $18.01 million, a PE ratio of 3.69, a PEG ratio of 0.82 and a beta of 1.70.

Institutional Investors Weigh In On Motorsport Games

Several institutional investors have recently bought and sold shares of MSGM. Renaissance Technologies LLC grew its holdings 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 last quarter. Dimensional Fund Advisors LP purchased a new stake in shares of Motorsport Games during the 3rd quarter valued at $46,000. State Street Corp purchased a new stake in shares of Motorsport Games during the 4th quarter valued at $39,000. HRT Financial LP acquired a new stake in shares of Motorsport Games in the 4th quarter worth $37,000. Finally, XTX Topco Ltd acquired a new stake in shares of Motorsport Games in the 4th quarter worth $34,000. 1.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MSGM has been the topic of several recent research reports. Weiss Ratings cut Motorsport Games from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, June 25th. Zacks Research upgraded Motorsport Games to a “hold” rating in a research note on Wednesday, July 1st. Finally, Wall Street Zen downgraded Motorsport Games from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 7th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

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).