Motorsport Games Inc. (NASDAQ:MSGM – Get Free Report) major shareholder Red Oak Partners, Llc acquired 23,143 shares of the firm’s stock in a transaction dated Thursday, August 20th. The stock was bought at an average price of $3.86 per share, for a total transaction of $89,331.98. Following the acquisition, the insider owned 333,410 shares of the company’s stock, valued at approximately $1,286,962.60. This trade represents a 7.46% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 21st, Red Oak Partners, Llc acquired 5,212 shares of Motorsport Games stock. The stock was bought at an average price of $3.67 per share, with a total value of $19,128.04.
- On Tuesday, August 18th, Red Oak Partners, Llc acquired 19,709 shares of Motorsport Games stock. The shares were 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 shares were 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 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 bought 3,200 shares of Motorsport Games stock. The stock was purchased 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 purchased at an average price of $3.95 per share, with a total value of $109,588.80.
Motorsport Games Trading Up 2.5%
MSGM traded up $0.10 during trading on Monday, hitting $4.05. 46,341 shares of the stock traded hands, compared to its average volume of 76,357. The firm has a market capitalization of $16.90 million, a P/E ratio of 9.42, a price-to-earnings-growth ratio of 0.53 and a beta of 1.71. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.85 and a quick ratio of 1.85. The firm has a 50-day moving average of $4.26 and a 200 day moving average of $4.15. Motorsport Games Inc. has a 12-month low of $2.11 and a 12-month high of $5.56.
Wall Street Analysts Forecast Growth
MSGM has been the subject of several research reports. Wall Street Zen lowered shares of Motorsport Games from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 7th. Zacks Research upgraded shares of Motorsport Games to a “hold” rating in a research report on Wednesday, July 1st. Finally, Weiss Ratings raised shares of Motorsport Games from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, July 10th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold”.
Read Our Latest Stock Analysis on MSGM
Institutional Trading of Motorsport Games
A number of hedge funds and other institutional investors have recently modified their holdings of MSGM. Dimensional Fund Advisors LP purchased a new stake in Motorsport Games in the third quarter worth about $46,000. State Street Corp purchased a new position in shares of Motorsport Games during the fourth quarter valued at approximately $39,000. HRT Financial LP bought a new stake in shares of Motorsport Games in the 4th quarter worth approximately $37,000. XTX Topco Ltd bought a new stake in shares of Motorsport Games in the 4th quarter worth approximately $34,000. Finally, Renaissance Technologies LLC grew its stake in shares of Motorsport Games by 43.8% in the 1st quarter. Renaissance Technologies LLC now owns 27,600 shares of the company’s stock worth $113,000 after buying an additional 8,400 shares during the last quarter. 1.66% of the stock is 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).
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