Motorsport Games (NASDAQ:MSGM) Upgraded to Strong-Buy at Wall Street Zen

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

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Motorsport Games in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Motorsport Games presently has a consensus rating of “Hold”.

Motorsport Games Stock Performance

Shares of NASDAQ MSGM opened at $4.08 on Friday. The firm has a market capitalization of $23.58 million, a price-to-earnings ratio of 2.83 and a beta of 1.79. The stock has a 50 day moving average price of $3.67 and a 200 day moving average price of $3.10. Motorsport Games has a 52-week low of $0.73 and a 52-week high of $5.41.

Motorsport Games (NASDAQ:MSGM) last released its quarterly earnings data on Tuesday, March 10th. The company reported $0.15 EPS for the quarter. The company had revenue of $3.85 million for the quarter. Motorsport Games had a return on equity of 129.70% and a net margin of 61.31%.

Insider Transactions at Motorsport Games

In related news, major shareholder Mike Zoi sold 90,900 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $4.49, for a total value of $408,141.00. Following the completion of the transaction, the insider owned 1,245,364 shares of the company’s stock, valued at $5,591,684.36. The trade was a 6.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 321,537 shares of company stock worth $1,348,505 over the last 90 days. Company insiders own 17.34% of the company’s stock.

Institutional Trading of Motorsport Games

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Heron Bay Capital Management bought a new position in shares of Motorsport Games in the 2nd quarter worth $132,000. Dimensional Fund Advisors LP purchased a new stake in shares of Motorsport Games during the 3rd quarter worth $46,000. State Street Corp bought a new stake in Motorsport Games during the fourth quarter valued at about $39,000. HRT Financial LP bought a new stake in Motorsport Games during the fourth quarter valued at about $37,000. Finally, XTX Topco Ltd purchased a new position in Motorsport Games in the fourth quarter valued at about $34,000. 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).