Red Oak Partners, Llc Acquires 5,212 Shares of Motorsport Games (NASDAQ:MSGM) Stock

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Red Oak Partners, Llc purchased 5,212 shares of the stock in a transaction on Friday, August 21st. The stock was acquired at an average cost of $3.67 per share, with a total value of $19,128.04. Following the acquisition, the insider owned 336,820 shares of the company’s stock, valued at approximately $1,236,129.40. This represents a 1.57% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Thursday, August 20th, Red Oak Partners, Llc acquired 23,143 shares of Motorsport Games stock. The shares were bought at an average price of $3.86 per share, for a total transaction of $89,331.98.
• On Tuesday, August 18th, Red Oak Partners, Llc acquired 19,709 shares of Motorsport Games stock. The stock was bought at an average cost of $4.00 per share, with a total value of $78,836.00.
• On Monday, August 17th, Red Oak Partners, Llc acquired 10,404 shares of Motorsport Games stock. The stock was bought at an average cost of $3.87 per share, with a total value of $40,263.48.
• On Thursday, July 2nd, Red Oak Partners, Llc bought 12,737 shares of Motorsport Games stock. The stock was bought at an average price of $4.14 per share, with a total value of $52,731.18.
• On Wednesday, July 1st, Red Oak Partners, Llc bought 3,200 shares of Motorsport Games stock. The shares were bought at an average cost of $4.07 per share, for a total transaction of $13,024.00.
• On Tuesday, June 30th, Red Oak Partners, Llc purchased 27,744 shares of Motorsport Games stock. The shares were bought at an average price of $3.95 per share, for a total transaction of $109,588.80.

Motorsport Games Trading Down 1.5%

Shares of Motorsport Games stock opened at $3.99 on Wednesday. The firm’s 50 day simple moving average is $4.27 and its two-hundred day simple moving average is $4.16. The firm has a market capitalization of $16.64 million, a price-to-earnings ratio of 9.28, a PEG ratio of 0.54 and a beta of 1.71. Motorsport Games Inc. has a 12-month low of $2.11 and a 12-month high of $5.56. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.23.

Motorsport Games (NASDAQ:MSGM) last posted its quarterly earnings data on Friday, August 14th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.02 by $0.17. Motorsport Games had a net margin of 16.15% and a return on equity of 41.13%. The business had revenue of $3.54 million during the quarter, compared to the consensus estimate of $2.90 million. Analysts predict that Motorsport Games Inc. will post 0.3 EPS for the current year.

Institutional Investors Weigh In On Motorsport Games

A number of hedge funds and other institutional investors have recently made changes to their positions in MSGM. State Street Corp purchased a new position in shares of Motorsport Games during the 4th quarter valued at approximately $39,000. HRT Financial LP purchased a new stake in Motorsport Games during the fourth quarter worth $37,000. Dimensional Fund Advisors LP acquired a new stake in Motorsport Games during the third quarter valued at $46,000. XTX Topco Ltd acquired a new stake in Motorsport Games during the fourth quarter valued at $34,000. Finally, Renaissance Technologies LLC increased 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 valued at $113,000 after buying an additional 8,400 shares in the last quarter. Institutional investors and hedge funds own 1.66% of the company’s stock.

Analyst Upgrades and Downgrades

MSGM has been the topic of several research analyst reports. Wall Street Zen downgraded Motorsport Games from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 7th. Weiss Ratings raised Motorsport Games from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday. Finally, Zacks Research upgraded Motorsport Games to a “hold” rating in a research report on Wednesday, July 1st. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

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).