Key Points
- Major shareholder Red Oak Partners bought 12,737 shares of Motorsport Games at an average price of $4.14, increasing its ownership by 4.5% to 295,881 shares.
- Red Oak Partners also made two earlier purchases this week, adding 3,200 shares on July 1 and 27,744 shares on June 30, signaling continued insider buying.
- Motorsport Games shares opened at $4.90, while analyst sentiment remains cautious overall with an average rating of “Reduce” after mixed recent rating changes.
Motorsport Games Inc. (NASDAQ:MSGM - Get Free Report) major shareholder Red Oak Partners, Llc purchased 3,200 shares of Motorsport Games stock in a transaction dated Wednesday, July 1st. The stock was bought at an average price of $4.07 per share, with a total value of $13,024.00. Following the acquisition, the insider directly owned 287,673 shares of the company's stock, valued at approximately $1,170,829.11. This trade represents a 1.12% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.
Red Oak Partners, Llc also recently made the following trade(s):
- On Thursday, July 2nd, Red Oak Partners, Llc acquired 12,737 shares of Motorsport Games stock. The shares were bought at an average price of $4.14 per share, for a total transaction of $52,731.18.
- On Tuesday, June 30th, Red Oak Partners, Llc acquired 27,744 shares of Motorsport Games stock. The stock was bought at an average cost of $3.95 per share, for a total transaction of $109,588.80.
Motorsport Games Stock Performance
NASDAQ MSGM traded up $0.01 on Tuesday, reaching $4.79. The company had a trading volume of 42,471 shares, compared to its average volume of 84,129. The company's fifty day moving average is $4.32 and its 200-day moving average is $3.93. The firm has a market capitalization of $20.00 million, a price-to-earnings ratio of 4.17, a price-to-earnings-growth ratio of 0.75 and a beta of 1.70. Motorsport Games Inc. has a 1-year low of $2.11 and a 1-year high of $5.56.
Institutional Trading of Motorsport Games
Institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp acquired a new position in Motorsport Games during the fourth quarter valued at approximately $39,000. HRT Financial LP acquired a new position in shares of Motorsport Games during the 4th quarter worth approximately $37,000. Dimensional Fund Advisors LP bought a new stake in shares of Motorsport Games during the 3rd quarter worth approximately $46,000. XTX Topco Ltd acquired a new stake in shares of Motorsport Games in the 4th quarter valued at approximately $34,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of Motorsport Games by 43.8% in the 1st quarter. Renaissance Technologies LLC now owns 27,600 shares of the company's stock valued at $113,000 after buying an additional 8,400 shares during the last quarter. Institutional investors own 1.66% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on MSGM. Wall Street Zen lowered Motorsport Games from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 7th. Zacks Research upgraded shares of Motorsport Games to a "hold" rating in a report on Wednesday, July 1st. Finally, Weiss Ratings lowered shares of Motorsport Games from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday, June 25th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Motorsport Games presently has a consensus rating of "Reduce".
Read Our Latest Research Report on MSGM
About Motorsport Games
(
Get Free Report)
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).
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