Red Oak Partners, Llc Buys 3,200 Shares of Motorsport Games (NASDAQ:MSGM) Stock

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Red Oak Partners, Llc acquired 3,200 shares of Motorsport Games stock in a transaction dated Wednesday, July 1st. The shares were purchased at an average cost of $4.07 per share, with a total value of $13,024.00. Following the completion of the transaction, the insider directly owned 287,673 shares of the company’s stock, valued at $1,170,829.11. This trade represents a 1.12% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% 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 Thursday, July 2nd, Red Oak Partners, Llc bought 12,737 shares of Motorsport Games stock. The stock was acquired at an average cost of $4.14 per share, with a total value of $52,731.18.
• On Tuesday, June 30th, Red Oak Partners, Llc acquired 27,744 shares of Motorsport Games stock. The stock was bought at an average price of $3.95 per share, with a total value of $109,588.80.

Motorsport Games Stock Down 2.1%

MSGM stock opened at $4.69 on Wednesday. The company has a market cap of $19.56 million, a price-to-earnings ratio of 4.01, a P/E/G ratio of 0.83 and a beta of 1.70. Motorsport Games Inc. has a twelve month low of $2.11 and a twelve month high of $5.56. The business has a 50 day moving average price of $4.33 and a two-hundred day moving average price of $3.94.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MSGM shares. Weiss Ratings cut Motorsport Games from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, June 25th. Zacks Research upgraded Motorsport Games to a “hold” rating in a research note on Wednesday, July 1st. Finally, Wall Street Zen downgraded Motorsport Games from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 7th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce”.

Institutional Investors Weigh In On Motorsport Games

Institutional investors and hedge funds have recently bought and sold shares of the company. XTX Topco Ltd bought a new stake in Motorsport Games during the fourth quarter worth $34,000. HRT Financial LP acquired a new position in shares of Motorsport Games during the 4th quarter worth $37,000. State Street Corp bought a new stake in shares of Motorsport Games during the 4th quarter worth $39,000. Dimensional Fund Advisors LP bought a new stake in shares of Motorsport Games during the 3rd quarter worth $46,000. Finally, Renaissance Technologies LLC boosted its stake 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 buying an additional 8,400 shares in the last quarter. Institutional investors own 1.66% of the company’s stock.

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).