Motorsport Games (NASDAQ:MSGM) Major Shareholder Sells $33,515.96 in Stock

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Mike Zoi sold 9,362 shares of the stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $3.58, for a total transaction of $33,515.96. Following the completion of the transaction, the insider directly owned 1,408,195 shares in the company, valued at $5,041,338.10. The trade was a 0.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Mike Zoi also recently made the following trade(s):

• On Friday, February 27th, Mike Zoi sold 9,603 shares of Motorsport Games stock. The stock was sold at an average price of $3.71, for a total transaction of $35,627.13.
• On Thursday, February 26th, Mike Zoi sold 5,059 shares of Motorsport Games stock. The shares were sold at an average price of $3.52, for a total transaction of $17,807.68.
• On Tuesday, February 24th, Mike Zoi sold 8,960 shares of Motorsport Games stock. The shares were sold at an average price of $3.62, for a total transaction of $32,435.20.
• On Monday, February 23rd, Mike Zoi sold 48,909 shares of Motorsport Games stock. The stock was sold at an average price of $3.59, for a total transaction of $175,583.31.
• On Friday, February 20th, Mike Zoi sold 4,959 shares of Motorsport Games stock. The stock was sold at an average price of $3.29, for a total value of $16,315.11.

Motorsport Games Trading Up 5.4%

Motorsport Games stock opened at $3.90 on Monday. The company has a market capitalization of $22.54 million, a price-to-earnings ratio of 9.75 and a beta of 1.79. Motorsport Games Inc. has a 12 month low of $0.73 and a 12 month high of $5.41. The stock’s 50 day moving average is $3.47 and its 200-day moving average is $3.01.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on MSGM shares. Wall Street Zen raised Motorsport Games to a “buy” rating in a report on Saturday, January 31st. Weiss Ratings restated a “hold (c-)” rating on shares of Motorsport Games in a research note on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold”.

Hedge Funds Weigh In On Motorsport Games

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Heron Bay Capital Management bought a new stake in shares of Motorsport Games during the 2nd quarter valued at $132,000. XTX Topco Ltd bought a new position in shares of Motorsport Games in the fourth quarter worth $34,000. State Street Corp acquired a new position in Motorsport Games in the fourth quarter valued at about $39,000. HRT Financial LP bought a new stake in Motorsport Games during the fourth quarter worth about $37,000. Finally, Dimensional Fund Advisors LP acquired a new stake in Motorsport Games during the third quarter worth about $46,000. 1.66% of the stock is owned by institutional investors and hedge funds.

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).