Golden Matrix Group, Inc. (NASDAQ:GMGI) Insider Aleksandar Milovanovic Buys 100,000 Shares of Stock

Golden Matrix Group, Inc. (NASDAQ:GMGI - Get Free Report) insider Aleksandar Milovanovic acquired 100,000 shares of Golden Matrix Group stock in a transaction dated Friday, February 14th. The shares were purchased at an average cost of $1.85 per share, with a total value of $185,000.00. Following the completion of the transaction, the insider now directly owns 78,414,616 shares of the company's stock, valued at $145,067,039.60. This trade represents a 0.13 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Tuesday, February 18th, Aleksandar Milovanovic bought 100,000 shares of Golden Matrix Group stock. The stock was purchased at an average price of $1.86 per share, for a total transaction of $186,000.00.
• On Wednesday, February 5th, Aleksandar Milovanovic acquired 20,000 shares of Golden Matrix Group stock. The stock was acquired at an average cost 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 acquired at an average cost of $1.80 per share, for a total transaction of $90,000.00.

Golden Matrix Group Stock Performance

Shares of Golden Matrix Group stock traded up $0.01 on Friday, reaching $2.15. 107,523 shares of the company were exchanged, compared to its average volume of 253,886. 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 has a 50-day moving average of $1.99 and a 200 day moving average of $2.25. Golden Matrix Group, Inc. has a one year low of $1.70 and a one year high of $6.27.

Institutional Trading of Golden Matrix Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in GMGI. SG Americas Securities LLC bought a new stake in shares of Golden Matrix Group in the 4th quarter valued at about $28,000. Kera Capital Partners Inc. bought a new stake in Golden Matrix Group in the fourth quarter valued at approximately $40,000. Virtu Financial LLC raised its stake in Golden Matrix Group by 56.0% in the third quarter. Virtu Financial LLC now owns 23,431 shares of the company's stock valued at $55,000 after buying an additional 8,408 shares during the period. Barclays PLC raised its stake in 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 buying an additional 22,420 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in 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 valued at $80,000 after acquiring an additional 8,061 shares during the period. 2.74% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Maxim Group began coverage on shares of Golden Matrix Group in a research report on Friday. They set 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.