Motorsport Games (NASDAQ:MSGM) Downgraded by Wall Street Zen to Buy

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

Motorsport Games Trading Up 3.0%

Motorsport Games stock opened at $4.18 on Friday. The firm’s 50 day simple moving average is $4.27 and its 200 day simple moving average is $3.72. The firm has a market capitalization of $17.43 million, a PE ratio of 3.57 and a beta of 1.67. Motorsport Games has a 1-year low of $2.11 and a 1-year high of $5.56.

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

Insiders Place Their Bets

In related news, major shareholder Mike Zoi sold 904,395 shares of the company’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $4.11, for a total transaction of $3,717,063.45. Following the sale, the insider owned 254,453 shares of the company’s stock, valued at approximately $1,045,801.83. This represents a 78.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 960,246 shares of company stock worth $3,977,109. Corporate insiders own 4.59% of the company’s stock.

Institutional Trading of Motorsport Games

Hedge funds and other institutional investors have recently bought and sold shares of the company. XTX Topco Ltd bought a new stake in Motorsport Games during the 4th quarter worth approximately $34,000. HRT Financial LP bought a new position in shares of Motorsport Games in the 4th quarter worth $37,000. State Street Corp purchased a new stake in shares of Motorsport Games during the 4th quarter valued at $39,000. Dimensional Fund Advisors LP purchased a new stake in shares of Motorsport Games during the 3rd quarter valued at $46,000. Finally, Renaissance Technologies LLC raised its position in shares of 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 buying an additional 8,400 shares in the last quarter. Institutional investors 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).