Motorsport Games Inc. (NASDAQ:MSGM) Short Interest Up 86.1% in May

Motorsport Games Inc. (NASDAQ:MSGM) was the target of a significant increase in short interest in the month of May. As of May 15th, there was short interest totaling 91,614 shares, an increase of 86.1% from the April 30th total of 49,223 shares. Approximately 1.7% of the shares of the company are short sold. Based on an average daily trading volume, of 105,824 shares, the short-interest ratio is currently 0.9 days.

Insider Activity

In other news, major shareholder Mike Zoi sold 904,395 shares of the business’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $4.11, for a total transaction of $3,717,063.45. Following the completion of the transaction, the insider directly owned 254,453 shares in the company, valued at approximately $1,045,801.83. The trade was a 78.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold 1,120,905 shares of company stock worth $4,685,959 in the last three months. Insiders own 4.59% of the company’s stock.

Institutional Investors Weigh In On Motorsport Games

A number of large investors have recently bought and sold shares of the business. 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 worth $113,000 after purchasing an additional 8,400 shares in the last quarter. XTX Topco Ltd bought a new stake in Motorsport Games during the fourth quarter valued at about $34,000. State Street Corp bought a new stake in Motorsport Games during the fourth quarter valued at about $39,000. HRT Financial LP acquired a new position in shares of Motorsport Games during the fourth quarter valued at about $37,000. Finally, Dimensional Fund Advisors LP acquired a new position in shares of Motorsport Games during the third quarter valued at about $46,000. 1.66% of the stock is currently owned by institutional investors.

Motorsport Games Stock Up 3.4%

Motorsport Games stock opened at $4.29 on Tuesday. The company’s fifty day simple moving average is $4.27 and its 200-day simple moving average is $3.70. Motorsport Games has a 12 month low of $2.11 and a 12 month high of $5.56. The stock has a market cap of $17.89 million, a P/E ratio of 3.67 and a beta of 1.68.

Motorsport Games (NASDAQ:MSGM) last posted its quarterly earnings results on Tuesday, March 10th. The company reported $0.15 EPS for the quarter. Motorsport Games had a net margin of 45.70% and a return on equity of 87.43%. The business had revenue of $3.85 million for the quarter.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Motorsport Games from a “buy” rating to a “strong-buy” rating in a research report on Saturday. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold”.

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).