Zacks Research lowered shares of Motorsport Games (NASDAQ:MSGM – Free Report) from a strong-buy rating to a hold rating in a report released on Monday,Zacks reports.
Several other research analysts have also commented on the company. Weiss Ratings upgraded Motorsport Games from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, September 11th. Wall Street Zen raised Motorsport Games to a “buy” rating in a research report on Saturday, September 26th. Two investment analysts have rated the stock with a Hold rating. According to MarketBeat, the company currently has a consensus rating of “Hold”.
Read Our Latest Report on MSGM
Motorsport Games Price Performance
MSGM opened at $5.15 on Monday. The company has a 50-day moving average of $4.55 and a 200-day moving average of $4.38. The company has a market capitalization of $21.48 million, a P/E ratio of 11.98, a PEG ratio of 0.71 and a beta of 1.87. Motorsport Games has a 1-year low of $2.11 and a 1-year high of $5.65. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.85 and a current ratio of 1.85.
Motorsport Games (NASDAQ:MSGM – Get Free Report) last issued its quarterly earnings results on Friday, August 14th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.02 by $0.17. The business had revenue of $3.54 million for the quarter, compared to analysts’ expectations of $2.90 million. Motorsport Games had a net margin of 16.15% and a return on equity of 41.13%. Equities analysts expect that Motorsport Games will post 0.30 EPS for the current fiscal year.
Insider Activity
In other Motorsport Games news, major shareholder Red Oak Partners, Llc purchased 23,143 shares of the firm’s stock in a transaction dated Thursday, August 20th. The stock was acquired at an average cost of $3.86 per share, with a total value 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 represents a 7.46% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders have bought 72,779 shares of company stock valued at $283,660. Company insiders own 4.59% of the company’s stock.
Institutional Investors Weigh In On Motorsport Games
An institutional investor recently raised its position in Motorsport Games stock. Renaissance Technologies LLC raised its stake in Motorsport Games Inc. (NASDAQ:MSGM – Free Report) by 43.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,600 shares of the company’s stock after acquiring an additional 8,400 shares during the period. Renaissance Technologies LLC owned 0.48% of Motorsport Games worth $113,000 as of its most recent SEC filing. Institutional investors own 1.66% of the company’s stock.
About Motorsport Games
Motorsport Games Inc is a video game developer and publisher focused on motorsports and racing entertainment. The company creates and distributes racing games for console and PC platforms, while also developing related online services and esports programs.
Its portfolio has included licensed titles based on major racing properties, including the NASCAR Heat series, NASCAR 21: Ignition and Le Mans Ultimate. Motorsport Games also operates Studio 397, the developer behind the rFactor 2 racing simulation platform.
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