Golden Matrix Group, Inc. (NASDAQ:GMGI) Insider Acquires $186,000.00 in Stock

Golden Matrix Group, Inc. (NASDAQ:GMGI - Get Free Report) insider Aleksandar Milovanovic purchased 100,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average price of $1.86 per share, for a total transaction of $186,000.00. Following the completion of the purchase, the insider now directly owns 78,514,616 shares of the company's stock, valued at approximately $146,037,185.76. This trade represents a 0.13 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Friday, February 14th, Aleksandar Milovanovic acquired 100,000 shares of Golden Matrix Group stock. The shares were purchased at an average price of $1.85 per share, for a total transaction of $185,000.00.
• On Wednesday, February 5th, Aleksandar Milovanovic purchased 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 purchased 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 Trading Up 0.5 %

Shares of GMGI stock traded up $0.01 during trading hours on Friday, hitting $2.15. The company had a trading volume of 107,523 shares, compared to its average volume of 253,886. Golden Matrix Group, Inc. has a 12 month low of $1.70 and a 12 month high of $6.27. The firm's fifty day moving average is $1.99 and its 200 day moving average 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.

Wall Street Analysts Forecast Growth

Separately, Maxim Group initiated coverage on shares of Golden Matrix Group in a research note on Friday. They issued a "buy" rating and a $4.00 target price on the stock.

Institutional Trading of Golden Matrix Group

A number of large investors have recently bought and sold shares of GMGI. Geode Capital Management LLC grew its holdings in shares of 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 purchasing an additional 32,182 shares during the last quarter. Barclays PLC grew its stake in Golden Matrix Group by 332.6% during the third quarter. Barclays PLC now owns 29,160 shares of the company's stock worth $67,000 after buying an additional 22,420 shares during the last quarter. SG Americas Securities LLC bought a new stake in Golden Matrix Group during the fourth quarter worth about $28,000. Virtu Financial LLC grew 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 worth $55,000 after acquiring an additional 8,408 shares during the last quarter. Finally, Kera Capital Partners Inc. bought a new stake in Golden Matrix Group during the 4th quarter worth approximately $40,000. 2.74% of the stock is currently 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.