Motorsport Games (NASDAQ:MSGM) Major Shareholder Red Oak Partners, Llc Purchases 3,280 Shares

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Red Oak Partners, Llc bought 3,280 shares of Motorsport Games stock in a transaction dated Thursday, August 27th. The stock was purchased at an average price of $3.90 per share, with a total value of $12,792.00. Following the purchase, the insider owned 338,966 shares in the company, valued at approximately $1,321,967.40. This represents a 0.98% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Red Oak Partners, Llc also recently made the following trade(s):

• On Monday, August 31st, Red Oak Partners, Llc purchased 4,554 shares of Motorsport Games stock. The shares were purchased at an average cost of $3.93 per share, for a total transaction of $17,897.22.
• On Friday, August 28th, Red Oak Partners, Llc purchased 4,328 shares of Motorsport Games stock. The shares were purchased at an average price of $3.91 per share, for a total transaction of $16,922.48.
• On Friday, August 21st, Red Oak Partners, Llc purchased 5,212 shares of Motorsport Games stock. The shares were purchased at an average price of $3.67 per share, for a total transaction of $19,128.04.
• On Thursday, August 20th, Red Oak Partners, Llc acquired 23,143 shares of Motorsport Games stock. The stock was purchased at an average cost of $3.86 per share, with a total value of $89,331.98.
• On Tuesday, August 18th, Red Oak Partners, Llc acquired 19,709 shares of Motorsport Games stock. The stock was purchased at an average price of $4.00 per share, with a total value of $78,836.00.
• On Monday, August 17th, Red Oak Partners, Llc bought 10,404 shares of Motorsport Games stock. The shares were purchased at an average cost of $3.87 per share, for a total transaction of $40,263.48.
• On Thursday, July 2nd, Red Oak Partners, Llc bought 12,737 shares of Motorsport Games stock. The stock was acquired at an average price of $4.14 per share, for a total transaction of $52,731.18.
• On Wednesday, July 1st, Red Oak Partners, Llc bought 3,200 shares of Motorsport Games stock. The stock was acquired at an average cost of $4.07 per share, with a total value of $13,024.00.
• On Tuesday, June 30th, Red Oak Partners, Llc bought 27,744 shares of Motorsport Games stock. The stock was acquired at an average cost of $3.95 per share, with a total value of $109,588.80.

Motorsport Games Stock Performance

Shares of MSGM opened at $3.88 on Tuesday. The stock has a 50 day moving average of $4.27 and a 200 day moving average of $4.17. The company has a market capitalization of $16.18 million, a price-to-earnings ratio of 9.02, a PEG ratio of 0.52 and a beta of 1.71. Motorsport Games Inc. has a 12 month low of $2.11 and a 12 month high of $5.56. 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 (NASDAQ:MSGM) last posted 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 for the quarter, compared to analysts’ expectations of $2.90 million. Motorsport Games had a return on equity of 41.13% and a net margin of 16.15%. As a group, sell-side analysts forecast that Motorsport Games Inc. will post 0.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

MSGM has been the subject of several research reports. Wall Street Zen lowered shares of Motorsport Games from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 7th. Weiss Ratings upgraded shares of Motorsport Games from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, August 24th. Finally, Zacks Research raised shares of Motorsport Games to a “hold” rating in a research report on Wednesday, July 1st. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Motorsport Games presently has an average rating of “Hold”.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP bought a new position in shares of Motorsport Games during the 3rd quarter worth $46,000. HRT Financial LP bought a new stake in Motorsport Games in the 4th quarter valued at about $37,000. State Street Corp purchased a new stake in Motorsport Games during the fourth quarter valued at about $39,000. XTX Topco Ltd purchased a new stake in Motorsport Games during the fourth quarter valued at about $34,000. Finally, Renaissance Technologies LLC boosted its position in Motorsport Games by 43.8% during the first quarter. Renaissance Technologies LLC now owns 27,600 shares of the company’s stock worth $113,000 after purchasing an additional 8,400 shares during the period. 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).