Motorsport Games Inc. (NASDAQ:MSGM – Get Free Report) major shareholder Red Oak Partners, Llc acquired 19,709 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was purchased at an average cost of $4.00 per share, with a total value of $78,836.00. Following the acquisition, the insider owned 315,461 shares in the company, valued at $1,261,844. The trade was a 6.66% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Red Oak Partners, Llc also recently made the following trade(s):
- On Monday, August 17th, Red Oak Partners, Llc acquired 10,404 shares of Motorsport Games stock. The shares were 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 bought 12,737 shares of Motorsport Games stock. The shares were acquired 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 acquired 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 stock was purchased at an average cost of $3.95 per share, for a total transaction of $109,588.80.
Motorsport Games Stock Down 1.0%
NASDAQ:MSGM traded down $0.04 during mid-day trading on Wednesday, hitting $3.95. 13,494 shares of the stock traded hands, compared to its average volume of 76,006. The business’s 50-day moving average price is $4.28 and its 200 day moving average price is $4.16. The company has a market cap of $16.47 million, a PE ratio of 9.19, a price-to-earnings-growth ratio of 0.77 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.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP purchased a new stake in Motorsport Games in the third quarter worth about $46,000. HRT Financial LP bought a new position in Motorsport Games during the 4th quarter valued at approximately $37,000. State Street Corp purchased a new position in Motorsport Games during the fourth quarter valued at $39,000. XTX Topco Ltd bought a new stake in Motorsport Games in the fourth quarter worth $34,000. Finally, 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 worth $113,000 after acquiring an additional 8,400 shares during the last quarter. Hedge funds and other institutional investors own 1.66% of the company’s stock.
Analysts Set New Price Targets
MSGM has been the topic of a number of analyst reports. 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. Weiss Ratings upgraded Motorsport Games from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, July 10th. Finally, Zacks Research upgraded Motorsport Games to a “hold” rating in a research report on Wednesday, July 1st. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Motorsport Games has a consensus rating of “Hold”.
Check Out Our Latest Stock Report on Motorsport Games
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).
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