Short Interest in Golden Matrix Group, Inc. (NASDAQ:GMGI) Increases By 7.0%

Golden Matrix Group, Inc. (NASDAQ:GMGI) was the recipient of a large increase in short interest in December. As of December 31st, there was short interest totalling 1,380,000 shares, an increase of 7.0% from the December 15th total of 1,290,000 shares. Based on an average daily trading volume, of 101,400 shares, the days-to-cover ratio is presently 13.6 days. Currently, 7.2% of the shares of the company are short sold.

Insiders Place Their Bets

In other Golden Matrix Group news, insider Aleksandar Milovanovic bought 14,038 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was purchased at an average cost of $2.69 per share, with a total value of $37,762.22. Following the transaction, the insider now directly owns 77,502,008 shares in the company, valued at $208,480,401.52. This trade represents a 0.02 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have bought a total of 49,596 shares of company stock valued at $121,380 in the last 90 days. 23.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. XTX Topco Ltd bought a new stake in shares of Golden Matrix Group in the 2nd quarter worth approximately $30,000. SG Americas Securities LLC purchased a new position in shares of Golden Matrix Group during the 4th quarter valued at $28,000. Rhumbline Advisers bought a new position in shares of Golden Matrix Group during the 2nd quarter worth $43,000. Kera Capital Partners Inc. purchased a new stake in Golden Matrix Group in the 4th quarter worth about $40,000. Finally, Virtu Financial LLC raised its stake in Golden Matrix Group by 56.0% in the 3rd quarter. Virtu Financial LLC now owns 23,431 shares of the company’s stock valued at $55,000 after acquiring an additional 8,408 shares during the period. 2.74% of the stock is owned by institutional investors.

Golden Matrix Group Stock Performance

GMGI opened at $2.04 on Tuesday. Golden Matrix Group has a fifty-two week low of $1.86 and a fifty-two week high of $6.27. The firm has a 50-day moving average of $2.21 and a 200 day moving average of $2.33. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.75 and a current ratio of 0.82.

About Golden Matrix Group

Golden Matrix Group, Inc provides enterprise software-as-a-service solutions for online casino and sports betting operators. The company develops and owns online gaming intellectual property; and builds gaming platforms for customers located primarily in the Asia Pacific region. Its platform facilitates gaming customers in operating online casinos, sportsbooks, lottery, and live games; and provides customers with access to a portfolio of licensed gaming content, which are provided by gaming content providers.