Golden Matrix Group, Inc. (NASDAQ:GMGI) Insider Buys $186,000.00 in Stock

Golden Matrix Group, Inc. (NASDAQ:GMGI) insider Aleksandar Milovanovic acquired 100,000 shares of Golden Matrix Group stock in a transaction dated Tuesday, February 18th. The shares were bought at an average cost of $1.86 per share, with a total value of $186,000.00. Following the transaction, the insider now owns 78,514,616 shares in the company, valued at approximately $146,037,185.76. This trade represents a 0.13 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Aleksandar Milovanovic also recently made the following trade(s):

• On Friday, February 14th, Aleksandar Milovanovic bought 100,000 shares of Golden Matrix Group stock. The shares were bought at an average price of $1.85 per share, for a total transaction of $185,000.00.
• On Wednesday, February 5th, Aleksandar Milovanovic purchased 20,000 shares of Golden Matrix Group stock. The stock was bought at an average price of $1.85 per share, with a total value of $37,000.00.
• On Monday, February 3rd, Aleksandar Milovanovic acquired 50,000 shares of Golden Matrix Group stock. The shares were bought at an average price of $1.80 per share, for a total transaction of $90,000.00.

Golden Matrix Group Trading Up 0.5 %

NASDAQ GMGI opened at $2.15 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.75 and a current ratio of 0.82. Golden Matrix Group, Inc. has a 52 week low of $1.70 and a 52 week high of $6.27. The business has a 50 day moving average price of $1.99 and a 200-day moving average price of $2.25.

Wall Street Analysts Forecast Growth

Separately, Maxim Group started coverage on Golden Matrix Group in a research note on Friday. They issued a “buy” rating and a $4.00 target price for the company.

Institutional Trading of Golden Matrix Group

Several hedge funds have recently bought and sold shares of GMGI. Bank of New York Mellon Corp raised its holdings in Golden Matrix Group by 24.7% during the fourth quarter. Bank of New York Mellon Corp now owns 40,632 shares of the company’s stock worth $80,000 after buying an additional 8,061 shares during the last quarter. Virtu Financial LLC raised its holdings in shares of Golden Matrix Group by 56.0% in the 3rd quarter. Virtu Financial LLC now owns 23,431 shares of the company’s stock worth $55,000 after acquiring an additional 8,408 shares during the last quarter. Northern Trust Corp lifted its position in Golden Matrix Group by 6.7% in the 4th quarter. Northern Trust Corp now owns 169,308 shares of the company’s stock valued at $335,000 after acquiring an additional 10,690 shares in the last quarter. SG Americas Securities LLC acquired a new position in Golden Matrix Group during the 4th quarter valued at about $28,000. Finally, Kera Capital Partners Inc. acquired a new position in Golden Matrix Group during the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 2.74% of the company’s stock.

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.