Motorsport Games Inc. (NASDAQ:MSGM – Get Rating) saw a significant decline in short interest in the month of May. As of May 31st, there was short interest totalling 36,700 shares, a decline of 40.1% from the May 15th total of 61,300 shares. Approximately 0.8% of the shares of the company are short sold. Based on an average trading volume of 114,300 shares, the days-to-cover ratio is currently 0.3 days.
A number of hedge funds have recently bought and sold shares of MSGM. Millennium Management LLC bought a new stake in Motorsport Games in the fourth quarter worth approximately $50,000. Bank of New York Mellon Corp acquired a new position in Motorsport Games during the 1st quarter valued at $73,000. EMC Capital Management raised its stake in Motorsport Games by 8.3% during the 4th quarter. EMC Capital Management now owns 71,791 shares of the company’s stock valued at $244,000 after purchasing an additional 5,497 shares during the last quarter. Morgan Stanley raised its stake in Motorsport Games by 87,103.1% during the 2nd quarter. Morgan Stanley now owns 27,905 shares of the company’s stock valued at $391,000 after purchasing an additional 27,873 shares during the last quarter. Finally, Cooper Creek Partners Management LLC raised its stake in Motorsport Games by 87.3% during the 4th quarter. Cooper Creek Partners Management LLC now owns 250,603 shares of the company’s stock valued at $852,000 after purchasing an additional 116,829 shares during the last quarter. 13.99% of the stock is owned by institutional investors.
Several equities research analysts recently issued reports on MSGM shares. Benchmark cut shares of Motorsport Games from a “buy” rating to a “hold” rating in a research report on Thursday, March 31st. Noble Financial cut shares of Motorsport Games from an “outperform” rating to a “market perform” rating in a research report on Thursday, March 3rd. DA Davidson cut Motorsport Games from a “buy” rating to a “neutral” rating in a research report on Thursday, March 31st. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $5.00 target price (down from $12.00) on shares of Motorsport Games in a report on Thursday, March 31st. Finally, Canaccord Genuity Group cut shares of Motorsport Games from a “buy” rating to a “hold” rating and cut their price target for the stock from $12.00 to $5.00 in a report on Thursday, March 31st. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Motorsport Games presently has an average rating of “Hold” and a consensus price target of $15.83.
Motorsport Games (NASDAQ:MSGM – Get Rating) last released its earnings results on Monday, May 16th. The company reported ($1.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.92). Motorsport Games had a negative return on equity of 64.16% and a negative net margin of 216.58%. During the same quarter in the prior year, the company earned ($1.30) earnings per share.
Motorsport Games Company Profile (Get Rating)
Motorsport Games Inc develops and publishes multi-platform racing video games in the United States. It operates through Gaming and Esports segments. The company offers video games for game consoles, personal computer, and mobile platforms through various retail and digital channels, including full-game and downloadable content.
- Get a free copy of the StockNews.com research report on Motorsport Games (MSGM)
- Three Upgrades You Need To Pay Attention Too
- Consider These Dividend-Paying Stocks During Inflationary Times
- MarketBeat: Week in Review 6/6 – 6/10
- NIO (NYSE: NIO) Justifies Recent Rally
- DocuSign (NASDAQ: DOCU) Collapses Back To Square One
Receive News & Ratings for Motorsport Games Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Motorsport Games and related companies with MarketBeat.com's FREE daily email newsletter.