Motorsport Games (NASDAQ:MSGM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Motorsport Games (NASDAQ:MSGM) to a buy rating in a research note released on Saturday morning,Wall Street Zen reports.

A number of other analysts also recently weighed in on the company. Weiss Ratings upgraded Motorsport Games from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, September 11th. Zacks Research raised Motorsport Games from a “hold” rating to a “strong-buy” rating in a report on Monday, August 31st. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy”.

Motorsport Games Stock Up 3.3%

Shares of Motorsport Games stock opened at $4.42 on Friday. Motorsport Games has a one year low of $2.11 and a one year high of $5.56. The company has a market cap of $18.43 million, a P/E ratio of 10.28, a PEG ratio of 0.57 and a beta of 1.71. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.85 and a current ratio of 1.85. The firm has a fifty day moving average of $4.29 and a two-hundred day moving average of $4.27.

Motorsport Games (NASDAQ:MSGM) last issued its quarterly earnings results on Friday, August 14th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.17. Motorsport Games had a net margin of 16.15% and a return on equity of 41.13%. The business had revenue of $3.54 million for the quarter, compared to analyst estimates of $2.90 million. On average, analysts forecast that Motorsport Games will post 0.3 earnings per share for the current year.

Insider Buying and Selling at Motorsport Games

In other news, major shareholder Red Oak Partners, Llc acquired 23,143 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The stock was purchased at an average cost of $3.86 per share, with a total value of $89,331.98. Following the purchase, the insider directly owned 333,410 shares of the company’s stock, valued at approximately $1,286,962.60. This trade represents a 7.46% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. In the last 90 days, insiders purchased 88,716 shares of company stock valued at $349,415. Corporate insiders own 4.59% of the company’s stock.

Institutional Trading of Motorsport Games

A hedge fund recently raised its position in Motorsport Games stock. Renaissance Technologies LLC grew its position in Motorsport Games Inc. (NASDAQ:MSGM) by 43.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,600 shares of the company’s stock after buying an additional 8,400 shares during the quarter. Renaissance Technologies LLC owned 0.48% of Motorsport Games worth $113,000 at the end of the most recent quarter. Institutional investors and hedge funds own 1.66% of the company’s stock.

About Motorsport Games

Motorsport Games Inc is a video game developer and publisher focused on racing and motorsport entertainment. The company creates and distributes interactive experiences based on licensed racing series, teams and events, with products designed for console and personal computer platforms.

Its portfolio has included the NASCAR Heat franchise, NASCAR 21: Ignition and titles associated with the 24 Hours of Le Mans and other major racing championships. Motorsport Games also owns Studio 397, the developer of the rFactor 2 racing simulation platform, and has published Le Mans Ultimate, an officially licensed endurance-racing game.

The company distributes its games internationally through digital storefronts and other retail channels, serving players across North America, Europe and additional global markets.