Golden Matrix Group, Inc. (NASDAQ:GMGI) Sees Large Increase in Short Interest

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

Golden Matrix Group Stock Performance

Shares of GMGI stock opened at $1.84 on Tuesday. Golden Matrix Group has a 52 week low of $1.70 and a 52 week high of $6.27. The company has a current ratio of 0.82, a quick ratio of 0.75 and a debt-to-equity ratio of 0.18. The company’s fifty day simple moving average is $2.08 and its two-hundred day simple moving average is $2.30.

Golden Matrix Group (NASDAQ:GMGI) last announced its earnings results on Tuesday, November 12th. The company reported ($0.03) earnings per share (EPS) for the quarter. The business had revenue of $40.99 million for the quarter. Golden Matrix Group had a negative net margin of 3.07% and a negative return on equity of 3.93%. As a group, research analysts predict that Golden Matrix Group will post 0.03 EPS for the current year.

Insiders Place Their Bets

In other Golden Matrix Group news, insider Aleksandar Milovanovic acquired 14,038 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was purchased at an average price 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 approximately $208,480,401.52. The trade was a 0.02 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 23.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Golden Matrix Group

Hedge funds have recently modified their holdings of the business. Geode Capital Management LLC lifted its position in Golden Matrix Group by 6.3% during the third quarter. Geode Capital Management LLC now owns 545,071 shares of the company’s stock valued at $1,270,000 after acquiring an additional 32,182 shares during the last quarter. Barclays PLC lifted its position in Golden Matrix Group by 332.6% during the third quarter. Barclays PLC now owns 29,160 shares of the company’s stock valued at $67,000 after acquiring an additional 22,420 shares during the last quarter. Renaissance Technologies LLC lifted its position in Golden Matrix Group by 675.9% during the second quarter. Renaissance Technologies LLC now owns 131,900 shares of the company’s stock valued at $326,000 after acquiring an additional 114,900 shares during the last quarter. Marshall Wace LLP purchased a new stake in Golden Matrix Group during the second quarter valued at approximately $91,000. Finally, Virtu Financial LLC lifted its position in Golden Matrix Group by 56.0% during the third 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 last quarter. Hedge funds and other institutional investors own 2.74% of the company’s stock.

Golden Matrix Group Company Profile

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.