Red Oak Partners, Llc Purchases 23,143 Shares of Motorsport Games (NASDAQ:MSGM) Stock

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Red Oak Partners, Llc bought 23,143 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The stock was purchased at an average price of $3.86 per share, for a total transaction of $89,331.98. Following the acquisition, the insider directly owned 333,410 shares in the company, valued at approximately $1,286,962.60. This trade represents a 7.46% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Friday, August 21st, Red Oak Partners, Llc bought 5,212 shares of Motorsport Games stock. The shares were purchased at an average cost of $3.67 per share, with a total value of $19,128.04.
• On Tuesday, August 18th, Red Oak Partners, Llc purchased 19,709 shares of Motorsport Games stock. The shares were purchased at an average price of $4.00 per share, with a total value of $78,836.00.
• On Monday, August 17th, Red Oak Partners, Llc purchased 10,404 shares of Motorsport Games stock. The stock was acquired at an average cost of $3.87 per share, for a total transaction of $40,263.48.
• On Thursday, July 2nd, Red Oak Partners, Llc purchased 12,737 shares of Motorsport Games stock. The stock was acquired at an average cost of $4.14 per share, for a total transaction of $52,731.18.
• On Wednesday, July 1st, Red Oak Partners, Llc acquired 3,200 shares of Motorsport Games stock. The stock was acquired at an average price of $4.07 per share, for a total transaction of $13,024.00.
• On Tuesday, June 30th, Red Oak Partners, Llc acquired 27,744 shares of Motorsport Games stock. The shares were acquired at an average cost of $3.95 per share, with a total value of $109,588.80.

Motorsport Games Price Performance

Shares of NASDAQ:MSGM opened at $3.99 on Wednesday. The business has a 50 day moving average price of $4.27 and a 200 day moving average price of $4.16. Motorsport Games Inc. has a twelve month low of $2.11 and a twelve month high of $5.56. The company has a market cap of $16.64 million, a price-to-earnings ratio of 9.28, a PEG ratio of 0.54 and a beta of 1.71. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.23.

Motorsport Games (NASDAQ:MSGM) last released its earnings results on Friday, August 14th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.17. The firm had revenue of $3.54 million for the quarter, compared to analyst estimates of $2.90 million. Motorsport Games had a return on equity of 41.13% and a net margin of 16.15%. Research analysts predict that Motorsport Games Inc. will post 0.3 earnings per share for the current year.

Institutional Trading of Motorsport Games

Institutional investors and hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC increased its holdings in Motorsport Games by 43.8% in the 1st quarter. Renaissance Technologies LLC now owns 27,600 shares of the company’s stock valued at $113,000 after buying an additional 8,400 shares during the period. XTX Topco Ltd acquired a new stake in shares of Motorsport Games during the 4th quarter valued at about $34,000. HRT Financial LP acquired a new stake in shares of Motorsport Games during the 4th quarter valued at about $37,000. State Street Corp bought a new stake in Motorsport Games in the fourth quarter valued at about $39,000. Finally, Dimensional Fund Advisors LP bought a new stake in Motorsport Games in the third quarter valued at about $46,000. 1.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on MSGM. Weiss Ratings upgraded shares of Motorsport Games from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday. Zacks Research upgraded shares of Motorsport Games to a “hold” rating in a research report on Wednesday, July 1st. Finally, Wall Street Zen downgraded shares of Motorsport Games from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 7th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average 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).