Red Oak Partners, Llc Buys 4,554 Shares of Motorsport Games (NASDAQ:MSGM) Stock

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Red Oak Partners, Llc acquired 4,554 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The stock was purchased at an average cost of $3.93 per share, with a total value of $17,897.22. Following the acquisition, the insider directly owned 344,776 shares of the company’s stock, valued at $1,354,969.68. This trade represents a 1.34% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more 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 Friday, August 28th, Red Oak Partners, Llc acquired 4,328 shares of Motorsport Games stock. The shares were purchased at an average price of $3.91 per share, with a total value of $16,922.48.
• On Thursday, August 27th, Red Oak Partners, Llc bought 3,280 shares of Motorsport Games stock. The shares were purchased at an average cost of $3.90 per share, for a total transaction of $12,792.00.
• On Friday, August 21st, Red Oak Partners, Llc bought 5,212 shares of Motorsport Games stock. The stock was purchased at an average price of $3.67 per share, for a total transaction of $19,128.04.
• On Thursday, August 20th, Red Oak Partners, Llc bought 23,143 shares of Motorsport Games stock. The stock was purchased 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 purchased 19,709 shares of Motorsport Games stock. The stock was 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 purchased 10,404 shares of Motorsport Games stock. The shares were purchased 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 shares were purchased 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 stock was acquired at an average price of $3.95 per share, with a total value of $109,588.80.

Motorsport Games Trading Up 0.8%

Shares of Motorsport Games stock opened at $3.91 on Wednesday. The stock has a 50 day moving average of $4.26 and a 200 day moving average of $4.17. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.85 and a current ratio of 1.85. The firm has a market capitalization of $16.30 million, a price-to-earnings ratio of 9.09, a PEG ratio of 0.52 and a beta of 1.71. Motorsport Games Inc. has a fifty-two week low of $2.11 and a fifty-two week high of $5.56.

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

Analyst Upgrades and Downgrades

MSGM has been the topic of several research analyst reports. Weiss Ratings upgraded shares of Motorsport Games from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, August 24th. Zacks Research raised shares of Motorsport Games to a “hold” rating in a research note on Wednesday, July 1st. Finally, Wall Street Zen cut shares of Motorsport Games from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 7th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold”.

Institutional Inflows and Outflows

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