Motorsport Games (NASDAQ:MSGM) Stock Rating Cut to “Hold” at Zacks Research

Motorsport Games (NASDAQ:MSGM) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks reports.

Other research analysts have also issued research reports about the stock. Weiss Ratings upgraded shares of Motorsport Games from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, September 11th. Wall Street Zen raised Motorsport Games to a “buy” rating in a research note on Saturday, September 26th. Two investment analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the stock has an average rating of “Hold”.

Motorsport Games Price Performance

Shares of NASDAQ MSGM opened at $5.15 on Monday. The firm has a 50-day moving average of $4.55 and a two-hundred day moving average of $4.38. The company has a market capitalization of $21.48 million, a price-to-earnings ratio of 11.98, a PEG ratio of 0.71 and a beta of 1.87. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.23. Motorsport Games has a twelve month low of $2.11 and a twelve month high of $5.65.

Motorsport Games (NASDAQ:MSGM) last released its quarterly earnings data on Friday, August 14th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.17. The business had revenue of $3.54 million during the quarter, compared to analyst estimates of $2.90 million. Motorsport Games had a return on equity of 41.13% and a net margin of 16.15%. As a group, analysts expect that Motorsport Games will post 0.30 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Red Oak Partners, Llc bought 23,143 shares of Motorsport Games 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 completion of the transaction, the insider directly owned 333,410 shares in the company, valued at $1,286,962.60. This trade represents a 7.46% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired 72,779 shares of company stock valued at $283,660 over the last three months. 4.59% of the stock is owned by company insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Motorsport Games stock. Renaissance Technologies LLC increased its stake in shares of Motorsport Games Inc. (NASDAQ:MSGM) by 43.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 reporting period. 1.66% of the stock is owned by institutional investors.

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.