Wall Street Zen Upgrades Motorsport Games (NASDAQ:MSGM) to “Strong-Buy”

Motorsport Games (NASDAQ:MSGM) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

Motorsport Games Trading Down 1.0%

Shares of NASDAQ MSGM opened at $4.15 on Friday. Motorsport Games has a 12 month low of $2.11 and a 12 month high of $5.56. The company has a 50 day simple moving average of $4.26 and a two-hundred day simple moving average of $3.70. The stock has a market cap of $17.31 million, a price-to-earnings ratio of 3.55 and a beta of 1.73.

Motorsport Games (NASDAQ:MSGM) last announced its quarterly earnings data on Tuesday, March 10th. The company reported $0.15 EPS for the quarter. Motorsport Games had a net margin of 45.70% and a return on equity of 87.43%. The business had revenue of $3.85 million during the quarter.

Insider Activity

In related news, major shareholder Mike Zoi sold 904,395 shares of the business’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $4.11, for a total value of $3,717,063.45. Following the completion of the transaction, the insider directly owned 254,453 shares in the company, valued at $1,045,801.83. The trade was a 78.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 1,139,080 shares of company stock valued at $4,754,284. Insiders own 4.59% of the company’s stock.

Hedge Funds Weigh In On Motorsport Games

Several large investors have recently made changes to their positions in the company. Renaissance Technologies LLC lifted its stake 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 purchasing an additional 8,400 shares during the period. XTX Topco Ltd acquired a new position in Motorsport Games during the fourth quarter worth $34,000. State Street Corp acquired a new position in Motorsport Games during the fourth quarter worth $39,000. HRT Financial LP acquired a new position in Motorsport Games during the fourth quarter worth $37,000. Finally, Dimensional Fund Advisors LP acquired a new position in Motorsport Games during the third quarter worth $46,000. 1.66% of the stock is currently owned by institutional investors and hedge funds.

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).