Insider Buying: Motorsport Games (NASDAQ:MSGM) Major Shareholder Purchases 3,280 Shares

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Red Oak Partners, Llc acquired 3,280 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The stock was purchased at an average cost of $3.90 per share, with a total value of $12,792.00. Following the purchase, the insider directly owned 338,966 shares in the company, valued at approximately $1,321,967.40. This trade represents a 0.98% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own at least 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 Monday, August 31st, Red Oak Partners, Llc bought 4,554 shares of Motorsport Games stock. The shares were purchased at an average cost of $3.93 per share, for a total transaction of $17,897.22.
• On Friday, August 28th, Red Oak Partners, Llc bought 4,328 shares of Motorsport Games stock. The stock was acquired at an average price of $3.91 per share, with a total value of $16,922.48.
• On Friday, August 21st, Red Oak Partners, Llc acquired 5,212 shares of Motorsport Games stock. The stock was purchased at an average price of $3.67 per share, with a total value of $19,128.04.
• On Thursday, August 20th, Red Oak Partners, Llc acquired 23,143 shares of Motorsport Games stock. The shares were purchased at an average cost of $3.86 per share, with a total value of $89,331.98.
• On Tuesday, August 18th, Red Oak Partners, Llc acquired 19,709 shares of Motorsport Games stock. The shares were purchased 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 bought 10,404 shares of Motorsport Games stock. The shares were bought at an average price of $3.87 per share, with a total value of $40,263.48.
• On Thursday, July 2nd, Red Oak Partners, Llc purchased 12,737 shares of Motorsport Games stock. The stock was bought 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 purchased 3,200 shares of Motorsport Games stock. The stock was bought 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 purchased 27,744 shares of Motorsport Games stock. The stock was bought at an average price of $3.95 per share, for a total transaction of $109,588.80.

Motorsport Games Price Performance

Motorsport Games stock traded down $0.01 during mid-day trading on Monday, hitting $3.88. 19,548 shares of the company were exchanged, compared to its average volume of 74,791. The company has a market capitalization of $16.18 million, a PE ratio of 9.02, a price-to-earnings-growth ratio of 0.52 and a beta of 1.71. The business has a fifty day moving average of $4.27 and a 200 day moving average of $4.16. Motorsport Games Inc. has a 1-year low of $2.11 and a 1-year high of $5.56. 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 issued its earnings results on Friday, August 14th. The company reported $0.19 EPS for the quarter, beating 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 company had revenue of $3.54 million for the quarter, compared to the consensus estimate of $2.90 million. As a group, sell-side analysts expect that Motorsport Games Inc. will post 0.3 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Zacks Research upgraded shares of Motorsport Games to a “hold” rating in a research report on Wednesday, July 1st. Wall Street Zen lowered shares of Motorsport Games from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 7th. Finally, Weiss Ratings upgraded shares of Motorsport Games from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, August 24th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold”.

Institutional Trading of Motorsport Games

Several large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP acquired a new stake in shares of Motorsport Games in the third quarter valued at $46,000. State Street Corp bought a new position in shares of Motorsport Games in the fourth quarter valued at about $39,000. HRT Financial LP acquired a new position in Motorsport Games during the 4th quarter worth about $37,000. XTX Topco Ltd acquired a new position in Motorsport Games during the 4th quarter worth about $34,000. Finally, Renaissance Technologies LLC grew its holdings in Motorsport Games by 43.8% during the 1st quarter. Renaissance Technologies LLC now owns 27,600 shares of the company’s stock worth $113,000 after acquiring an additional 8,400 shares during the last quarter. Institutional investors own 1.66% of the company’s stock.

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).