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

Golden Matrix Group, Inc. (NASDAQ:GMGI - Get Free Report) Director Thomas Mcchesney sold 7,500 shares of Golden Matrix Group stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $2.12, for a total value of $15,900.00. Following the transaction, the director now owns 271,897 shares in the company, valued at approximately $576,421.64. This trade represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 Stock Performance

NASDAQ:GMGI traded up $0.02 on Tuesday, hitting $1.99. 65,841 shares of the company's stock traded hands, compared to its average volume of 145,500. Golden Matrix Group, Inc. has a 1 year low of $1.70 and a 1 year 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 firm has a 50-day moving average price of $2.00 and a 200-day moving average price of $2.19.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC lifted its position in Golden Matrix Group by 332.6% in the 3rd quarter. Barclays PLC now owns 29,160 shares of the company's stock worth $67,000 after buying an additional 22,420 shares in the last quarter. Geode Capital Management LLC increased 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 acquiring an additional 32,182 shares during the last quarter. Virtu Financial LLC raised its holdings in shares of 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 acquiring an additional 8,408 shares in the last quarter. Kera Capital Partners Inc. acquired a new stake in Golden Matrix Group during the fourth quarter valued at $40,000. Finally, SG Americas Securities LLC purchased a new position in Golden Matrix Group in the fourth quarter valued at about $28,000. 2.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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