Motorsport Games (NASDAQ:MSGM) Posts Quarterly Earnings Results, Misses Expectations By $0.92 EPS

Motorsport Games (NASDAQ:MSGM – Get Rating) issued its earnings results on Monday. The company reported ($1.30) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.92), MarketWatch Earnings reports. Motorsport Games had a negative return on equity of 67.60% and a negative net margin of 219.97%. During the same quarter last year, the business earned ($1.30) EPS.

Motorsport Games stock opened at $0.69 on Wednesday. The stock has a 50-day moving average price of $1.26 and a 200 day moving average price of $4.10. Motorsport Games has a 52 week low of $0.63 and a 52 week high of $19.14.

A number of large investors have recently added to or reduced their stakes in MSGM. Millennium Management LLC acquired a new stake in shares of Motorsport Games during the 4th quarter worth about $50,000. Morgan Stanley lifted its stake in shares of Motorsport Games by 87,103.1% during the second quarter. Morgan Stanley now owns 27,905 shares of the company’s stock valued at $391,000 after buying an additional 27,873 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in Motorsport Games during the first quarter worth approximately $73,000. Institutional investors own 13.99% of the company’s stock.

Several equities research analysts have recently commented on MSGM shares. Benchmark lowered Motorsport Games from a “buy” rating to a “hold” rating in a research note on Thursday, March 31st. DA Davidson downgraded 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 set a $5.00 price target (down previously from $12.00) on shares of Motorsport Games in a research note on Thursday, March 31st. Noble Financial cut shares of Motorsport Games from an “outperform” rating to a “market perform” rating in a research note on Thursday, March 3rd. Finally, Canaccord Genuity Group cut shares of Motorsport Games from a “buy” rating to a “hold” rating and cut their target price for the stock from $12.00 to $5.00 in a research report on Thursday, March 31st. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Motorsport Games currently has an average rating of “Hold” and an average price target of $15.83.

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.

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