Zacks Research Upgrades Motorsport Games (NASDAQ:MSGM) to “Strong-Buy”

Motorsport Games (NASDAQ:MSGM) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Monday, Zacks reports.

MSGM has been the subject of a number of other research reports. Weiss Ratings raised shares of Motorsport Games from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, August 24th. Wall Street Zen downgraded shares of Motorsport Games from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 7th. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy”.

Motorsport Games Stock Performance

Shares of MSGM stock opened at $3.91 on Monday. Motorsport Games has a 1-year low of $2.11 and a 1-year 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. The company has a market capitalization of $16.30 million, a price-to-earnings ratio of 9.09, a P/E/G ratio of 0.52 and a beta of 1.71. The stock’s fifty day simple moving average is $4.26 and its 200-day simple moving average is $4.17.

Motorsport Games (NASDAQ:MSGM) last announced its quarterly earnings data on Friday, August 14th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.17. The firm had revenue of $3.54 million for the quarter, compared to the consensus estimate of $2.90 million. Motorsport Games had a net margin of 16.15% and a return on equity of 41.13%. On average, sell-side analysts predict that Motorsport Games will post 0.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Motorsport Games

In other news, major shareholder Red Oak Partners, Llc acquired 23,143 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The stock was acquired at an average cost of $3.86 per share, with a total value of $89,331.98. Following the acquisition, the insider owned 333,410 shares in the company, valued at approximately $1,286,962.60. This represents a 7.46% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have acquired 114,311 shares of company stock valued at $450,515 in the last ninety days. 4.59% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MSGM. XTX Topco Ltd bought a new stake in Motorsport Games during the fourth quarter valued at about $34,000. HRT Financial LP bought a new position in shares of Motorsport Games in the fourth quarter worth about $37,000. State Street Corp acquired a new position in shares of Motorsport Games during the 4th quarter worth about $39,000. Dimensional Fund Advisors LP acquired a new position in shares of Motorsport Games during the 3rd quarter worth about $46,000. Finally, Renaissance Technologies LLC boosted its stake in Motorsport Games by 43.8% during the 1st quarter. Renaissance Technologies LLC now owns 27,600 shares of the company’s stock valued at $113,000 after purchasing an additional 8,400 shares during the period. Institutional investors and hedge funds own 1.66% of the company’s stock.

About Motorsport Games

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).