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

Golden Matrix Group, Inc. (NASDAQ:GMGI - Get Free Report) insider Aleksandar Milovanovic bought 50,000 shares of the company's stock in a transaction dated Friday, March 7th. The shares were purchased at an average price of $2.16 per share, with a total value of $108,000.00. Following the completion of the acquisition, the insider now owns 79,214,552 shares of the company's stock, valued at $171,103,432.32. This trade represents a 0.06 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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 cost of $1.97 per share, with a total value of $4,952.58.
• On Tuesday, February 18th, Aleksandar Milovanovic bought 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 purchased 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 acquired 20,000 shares of Golden Matrix Group stock. The shares were purchased at an average cost of $1.85 per share, with a total value of $37,000.00.
• On Monday, February 3rd, Aleksandar Milovanovic bought 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 Down 0.7 %

GMGI stock traded down $0.02 on Thursday, reaching $2.02. 36,750 shares of the company traded hands, compared to its average volume of 139,982. The firm has a fifty day simple moving average of $2.01 and a 200-day simple moving average of $2.22. Golden Matrix Group, Inc. has a one year low of $1.70 and a one year high of $6.27. The company has a quick ratio of 0.75, a current ratio of 0.82 and a debt-to-equity ratio of 0.18.

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Hedge Funds Weigh In On Golden Matrix Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in shares of Golden Matrix Group during the fourth quarter valued at $28,000. Kera Capital Partners Inc. purchased a new stake in Golden Matrix Group during the 4th quarter valued at $40,000. Virtu Financial LLC grew its holdings 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 acquiring an additional 8,408 shares during the period. Barclays PLC increased its position in Golden Matrix Group by 332.6% during the third quarter. Barclays PLC now owns 29,160 shares of the company's stock valued at $67,000 after acquiring an additional 22,420 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Golden Matrix Group by 24.7% during the 4th quarter. Bank of New York Mellon Corp now owns 40,632 shares of the company's stock valued at $80,000 after purchasing an additional 8,061 shares during the period. 2.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Maxim Group began coverage on shares of Golden Matrix Group in a research note on Friday, February 21st. They set a "buy" rating and a $4.00 price objective 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.