Golden Matrix Group, Inc. (NASDAQ:GMGI) Short Interest Down 5.8% in November

Golden Matrix Group, Inc. (NASDAQ:GMGI - Get Free Report) was the recipient of a significant decline in short interest in November. As of November 30th, there was short interest totalling 894,800 shares, a decline of 5.8% from the November 15th total of 949,400 shares. Currently, 6.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 80,200 shares, the short-interest ratio is currently 11.2 days.

Golden Matrix Group Stock Performance

Shares of NASDAQ:GMGI traded down $0.01 during midday trading on Tuesday, hitting $1.99. 144,759 shares of the stock were exchanged, compared to its average volume of 115,455. Golden Matrix Group has a twelve month low of $1.93 and a twelve month 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 company has a 50 day moving average price of $2.39 and a 200-day moving average price of $2.50.

Insider Buying and Selling

In other news, insider Aleksandar Milovanovic acquired 25,000 shares of Golden Matrix Group stock in a transaction that occurred on Thursday, October 31st. The stock was purchased at an average cost of $2.35 per share, with a total value of $58,750.00. Following the completion of the acquisition, the insider now owns 77,462,970 shares in the company, valued at $182,037,979.50. This trade represents a 0.03 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders have purchased 49,596 shares of company stock valued at $121,380. Corporate insiders own 23.20% of the company's stock.

Hedge Funds Weigh In On Golden Matrix Group

Hedge funds have recently added to or reduced their stakes in the business. XTX Topco Ltd acquired a new stake in shares of Golden Matrix Group in the second quarter valued at approximately $30,000. Rhumbline Advisers purchased a new stake in Golden Matrix Group in the 2nd quarter valued at approximately $43,000. Virtu Financial LLC grew its holdings in Golden Matrix Group by 56.0% during the 3rd 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 last quarter. 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 worth $67,000 after buying an additional 22,420 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Golden Matrix Group in the second quarter worth $91,000. 2.74% of the stock is currently owned by hedge funds and other institutional investors.

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.