Zacks Research upgraded shares of Motorsport Games (NASDAQ:MSGM – Free Report) from a hold rating to a strong-buy rating in a research note published on Monday morning,Zacks reports.
Several other brokerages have also recently issued reports on MSGM. 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 shares of Motorsport Games from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 24th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Motorsport Games currently has an average rating of “Buy”.
Read Our Latest Stock Analysis on Motorsport Games
Motorsport Games Stock Performance
Motorsport Games (NASDAQ:MSGM – Get Free Report) last announced its quarterly earnings results on Friday, August 14th. The company reported $0.19 earnings per share (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 firm had revenue of $3.54 million for the quarter, compared to the consensus estimate of $2.90 million. Equities research analysts anticipate that Motorsport Games will post 0.3 earnings per share for the current fiscal year.
Insider Transactions at Motorsport Games
In other news, major shareholder Red Oak Partners, Llc acquired 27,744 shares of the business’s stock in a transaction on Tuesday, June 30th. The stock was bought at an average price of $3.95 per share, for a total transaction of $109,588.80. Following the transaction, the insider owned 285,611 shares in the company, valued at $1,128,163.45. This represents a 10.76% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders have acquired 114,311 shares of company stock valued at $450,515. Insiders own 4.59% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of MSGM. XTX Topco Ltd acquired a new stake in shares of Motorsport Games during the fourth quarter valued at $34,000. HRT Financial LP acquired a new stake in shares of Motorsport Games in the fourth quarter worth approximately $37,000. State Street Corp purchased a new stake in Motorsport Games in the fourth quarter valued at approximately $39,000. Dimensional Fund Advisors LP purchased a new position in Motorsport Games during the third quarter worth approximately $46,000. Finally, Renaissance Technologies LLC boosted 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 acquiring 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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