Golden Matrix Group, Inc. (NASDAQ:GMGI) Insider Acquires $108,000.00 in Stock

Golden Matrix Group, Inc. (NASDAQ:GMGI) insider Aleksandar Milovanovic bought 50,000 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was bought at an average price of $2.16 per share, with a total value of $108,000.00. Following the acquisition, the insider now owns 79,214,552 shares in the company, valued at approximately $171,103,432.32. This trade represents a 0.06 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, March 4th, Aleksandar Milovanovic purchased 2,514 shares of Golden Matrix Group stock. The stock was bought at an average price of $1.97 per share, with a total value of $4,952.58.
• On Tuesday, February 18th, Aleksandar Milovanovic acquired 100,000 shares of Golden Matrix Group stock. The shares were purchased at an average price of $1.86 per share, for a total transaction of $186,000.00.
• On Friday, February 14th, Aleksandar Milovanovic bought 100,000 shares of Golden Matrix Group stock. The stock was purchased at an average price of $1.85 per share, with a total value of $185,000.00.
• On Wednesday, February 5th, Aleksandar Milovanovic purchased 20,000 shares of Golden Matrix Group stock. The shares were purchased at an average price of $1.85 per share, for a total transaction of $37,000.00.
• On Monday, February 3rd, Aleksandar Milovanovic acquired 50,000 shares of Golden Matrix Group stock. The stock was purchased at an average cost of $1.80 per share, with a total value of $90,000.00.

Golden Matrix Group Stock Up 1.5 %

NASDAQ:GMGI opened at $2.09 on Wednesday. Golden Matrix Group, Inc. has a twelve month low of $1.70 and a twelve month 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 stock has a fifty day simple moving average of $2.01 and a 200-day simple moving average of $2.23.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its stake in Golden Matrix Group by 6.3% in the 3rd quarter. Geode Capital Management LLC now owns 545,071 shares of the company’s stock worth $1,270,000 after acquiring an additional 32,182 shares in the last quarter. Barclays PLC boosted its holdings in shares of Golden Matrix Group by 332.6% in the third quarter. Barclays PLC now owns 29,160 shares of the company’s stock valued at $67,000 after purchasing an additional 22,420 shares during the period. Rhumbline Advisers grew its stake in Golden Matrix Group by 390.5% in the fourth quarter. Rhumbline Advisers now owns 106,449 shares of the company’s stock worth $211,000 after purchasing an additional 84,749 shares in the last quarter. SG Americas Securities LLC purchased a new position in Golden Matrix Group during the 4th quarter worth $28,000. Finally, Virtu Financial LLC raised its position in Golden Matrix Group by 56.0% during the 3rd quarter. Virtu Financial LLC now owns 23,431 shares of the company’s stock valued at $55,000 after purchasing an additional 8,408 shares in the last quarter. Hedge funds and other institutional investors own 2.74% of the company’s stock.

Analyst Ratings Changes

Separately, Maxim Group began coverage on Golden Matrix Group in a report on Friday, February 21st. They issued a “buy” rating and a $4.00 price target on the 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.