Golden Matrix Group (NASDAQ:GMGI) Earns Buy Rating from Analysts at Maxim Group

Analysts at Maxim Group assumed coverage on shares of Golden Matrix Group (NASDAQ:GMGI) in a note issued to investors on Friday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $4.00 price target on the stock. Maxim Group’s target price would suggest a potential upside of 86.92% from the company’s previous close.

Golden Matrix Group Trading Down 12.3 %

GMGI opened at $2.14 on Friday. The business’s 50-day moving average price is $1.99 and its 200-day moving average price is $2.25. The company has a current ratio of 0.82, a quick ratio of 0.75 and a debt-to-equity ratio of 0.18. Golden Matrix Group has a 12 month low of $1.70 and a 12 month high of $6.27.

Insider Transactions at Golden Matrix Group

In related news, insider Aleksandar Milovanovic acquired 20,000 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were purchased at an average price of $1.85 per share, for a total transaction of $37,000.00. Following the completion of the acquisition, the insider now owns 77,934,616 shares in the company, valued at approximately $144,179,039.60. This represents a 0.03 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Over the last quarter, insiders have purchased 270,000 shares of company stock worth $498,000. Company insiders own 23.20% of the company’s stock.

Institutional Trading of Golden Matrix Group

Large investors have recently modified their holdings of the business. Geode Capital Management LLC grew its stake in shares of Golden Matrix Group by 6.3% in the third quarter. Geode Capital Management LLC now owns 545,071 shares of the company’s stock worth $1,270,000 after purchasing an additional 32,182 shares during the last quarter. Barclays PLC grew its stake 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 worth $67,000 after purchasing an additional 22,420 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Golden Matrix Group in the fourth quarter worth about $28,000. Virtu Financial LLC grew its stake in shares of Golden Matrix Group by 56.0% in the third quarter. Virtu Financial LLC now owns 23,431 shares of the company’s stock worth $55,000 after purchasing an additional 8,408 shares during the last quarter. Finally, Kera Capital Partners Inc. bought a new stake in shares of Golden Matrix Group in the fourth quarter worth about $40,000. 2.74% of the stock is owned by institutional investors.

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.