Motorsport Games (NASDAQ:MSGM) Announces Earnings Results

Motorsport Games (NASDAQ:MSGM) announced its quarterly earnings data on Tuesday. The company reported $0.15 EPS for the quarter, FiscalAI reports. The company had revenue of $3.85 million for the quarter. Motorsport Games had a return on equity of 86.01% and a net margin of 34.24%.

Motorsport Games Stock Down 10.1%

NASDAQ:MSGM traded down $0.49 during mid-day trading on Tuesday, reaching $4.35. The company’s stock had a trading volume of 247,306 shares, compared to its average volume of 96,691. Motorsport Games has a 1 year low of $0.73 and a 1 year high of $5.41. The stock has a fifty day moving average of $3.60 and a 200-day moving average of $3.07. The firm has a market capitalization of $25.14 million, a PE ratio of 10.88 and a beta of 1.79.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, major shareholder Mike Zoi sold 90,900 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $4.49, for a total value of $408,141.00. Following the completion of the sale, the insider owned 1,245,364 shares of the company’s stock, valued at approximately $5,591,684.36. This represents a 6.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders have sold 290,406 shares of company stock worth $1,208,104. Company insiders own 17.34% of the company’s stock.

Institutional Investors Weigh In On Motorsport Games

A number of hedge funds and other institutional investors have recently bought and sold shares of MSGM. Heron Bay Capital Management acquired a new position in shares of Motorsport Games in the 2nd quarter valued at $132,000. Dimensional Fund Advisors LP purchased a new stake in Motorsport Games during the 3rd quarter valued at about $46,000. State Street Corp purchased a new stake in Motorsport Games during the 4th quarter valued at about $39,000. HRT Financial LP acquired a new position in shares of Motorsport Games in the fourth quarter valued at about $37,000. Finally, XTX Topco Ltd purchased a new position in shares of Motorsport Games in the fourth quarter worth about $34,000. Hedge funds and other 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).