Golden Matrix Group, Inc. (NASDAQ:GMGI) Director Thomas Mcchesney Sells 7,500 Shares

Golden Matrix Group, Inc. (NASDAQ:GMGI) Director Thomas Mcchesney sold 7,500 shares of Golden Matrix Group stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $2.12, for a total transaction of $15,900.00. Following the transaction, the director now directly owns 271,897 shares in the company, valued at $576,421.64. This represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Thomas Mcchesney also recently made the following trade(s):

• On Friday, March 28th, Thomas Mcchesney sold 257 shares of Golden Matrix Group stock. The shares were sold at an average price of $2.13, for a total transaction of $547.41.

Golden Matrix Group Price Performance

GMGI stock opened at $2.04 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.82 and a debt-to-equity ratio of 0.18. The business has a 50 day moving average of $2.00 and a 200-day moving average of $2.19. Golden Matrix Group, Inc. has a 12-month low of $1.70 and a 12-month high of $6.27.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its holdings in shares of Golden Matrix Group by 24.7% in the 4th 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 increased its holdings in Golden Matrix Group by 56.0% during the third quarter. Virtu Financial LLC now owns 23,431 shares of the company’s stock worth $55,000 after buying an additional 8,408 shares during the last quarter. Northern Trust Corp raised its position in Golden Matrix Group by 6.7% in the fourth quarter. Northern Trust Corp now owns 169,308 shares of the company’s stock worth $335,000 after acquiring an additional 10,690 shares during the period. SG Americas Securities LLC purchased a new position in Golden Matrix Group in the fourth quarter valued at about $28,000. Finally, Kera Capital Partners Inc. bought a new position in shares of Golden Matrix Group during the 4th quarter valued at approximately $40,000. Institutional investors own 2.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Maxim Group initiated coverage on shares of Golden Matrix Group in a research report on Friday, February 21st. They issued a “buy” rating and a $4.00 price objective for the company.

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.