Motorsport Games (NASDAQ:MSGM) Major Shareholder Red Oak Partners, Llc Purchases 12,737 Shares

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Red Oak Partners, Llc purchased 12,737 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The stock was acquired at an average price of $4.14 per share, for a total transaction of $52,731.18. Following the acquisition, the insider owned 295,881 shares in the company, valued at $1,224,947.34. This trade represents a 4.50% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more 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 Wednesday, July 1st, Red Oak Partners, Llc acquired 3,200 shares of Motorsport Games stock. The shares were acquired at an average price of $4.07 per share, with a total value of $13,024.00.
• On Tuesday, June 30th, Red Oak Partners, Llc acquired 27,744 shares of Motorsport Games stock. The stock was acquired at an average price of $3.95 per share, for a total transaction of $109,588.80.

Motorsport Games Price Performance

NASDAQ:MSGM opened at $4.90 on Tuesday. The company’s fifty day moving average price is $4.32 and its 200-day moving average price is $3.93. Motorsport Games Inc. has a 1-year low of $2.11 and a 1-year high of $5.56. The firm has a market capitalization of $20.44 million, a P/E ratio of 4.18, a PEG ratio of 0.75 and a beta of 1.70.

Analyst Ratings Changes

MSGM has been the subject of a number of recent research reports. Wall Street Zen lowered Motorsport Games from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 7th. Zacks Research upgraded Motorsport Games to a “hold” rating in a research note on Wednesday, July 1st. Finally, Weiss Ratings cut Motorsport Games from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, June 25th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Motorsport Games has a consensus rating of “Reduce”.

Institutional Trading of Motorsport Games

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new position in Motorsport Games in the fourth quarter valued at $34,000. HRT Financial LP purchased a new stake in shares of Motorsport Games during the 4th quarter worth about $37,000. State Street Corp acquired a new stake in shares of Motorsport Games during the 4th quarter valued at about $39,000. Dimensional Fund Advisors LP acquired a new stake in shares of Motorsport Games during the 3rd quarter valued at about $46,000. Finally, Renaissance Technologies LLC increased 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 in the last quarter. Institutional investors and hedge funds 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).