Motorsport Games (NASDAQ:MSGM) Major Shareholder Mike Zoi Sells 11,675 Shares

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Mike Zoi sold 11,675 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $3.77, for a total transaction of $44,014.75. Following the completion of the transaction, the insider owned 1,376,799 shares in the company, valued at approximately $5,190,532.23. This trade represents a 0.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, March 4th, Mike Zoi sold 40,535 shares of Motorsport Games stock. The shares were sold at an average price of $4.03, for a total transaction of $163,356.05.
• On Monday, March 2nd, Mike Zoi sold 6,500 shares of Motorsport Games stock. The shares were sold at an average price of $3.74, for a total transaction of $24,310.00.
• On Friday, February 27th, Mike Zoi sold 9,603 shares of Motorsport Games stock. The shares were sold at an average price of $3.71, for a total value of $35,627.13.
• On Thursday, February 26th, Mike Zoi sold 5,059 shares of Motorsport Games stock. The stock was sold at an average price of $3.52, for a total value of $17,807.68.
• On Wednesday, February 25th, Mike Zoi sold 9,362 shares of Motorsport Games stock. The stock was sold at an average price of $3.58, for a total transaction of $33,515.96.
• 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 shares were 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 transaction of $16,315.11.

Motorsport Games Price Performance

NASDAQ MSGM traded up $0.24 during trading hours on Wednesday, hitting $4.05. The company had a trading volume of 131,506 shares, compared to its average volume of 45,508. The firm’s 50 day moving average is $3.51 and its 200 day moving average is $3.03. Motorsport Games Inc. has a fifty-two week low of $0.73 and a fifty-two week high of $5.41. The company has a market capitalization of $23.41 million, a price-to-earnings ratio of 10.13 and a beta of 1.79.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Motorsport Games in a report on Monday, December 29th. Wall Street Zen upgraded shares of Motorsport Games to a “buy” rating in a research note on Saturday, January 31st. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Motorsport Games currently has an average rating of “Hold”.

Institutional Trading of Motorsport Games

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