Golden Matrix Group, Inc. (NASDAQ:GMGI) Sees Significant Increase in Short Interest

Golden Matrix Group, Inc. (NASDAQ:GMGI - Get Free Report) was the recipient of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 1,290,000 shares, an increase of 44.2% from the November 30th total of 894,800 shares. Approximately 6.8% of the shares of the stock are short sold. Based on an average trading volume of 96,600 shares, the days-to-cover ratio is currently 13.4 days.

Golden Matrix Group Stock Down 0.5 %

Shares of GMGI traded down $0.01 during trading hours on Monday, hitting $2.03. 60,785 shares of the stock traded hands, compared to its average volume of 115,541. The business has a fifty day moving average of $2.33 and a 200-day moving average of $2.39. The company has a current ratio of 0.82, a quick ratio of 0.75 and a debt-to-equity ratio of 0.18. Golden Matrix Group has a 1-year low of $1.89 and a 1-year high of $6.27.

Insiders Place Their Bets

In other news, insider Aleksandar Milovanovic acquired 14,038 shares of Golden Matrix Group stock in a transaction on Wednesday, November 6th. The shares were purchased at an average price of $2.69 per share, with a total value of $37,762.22. Following the acquisition, the insider now owns 77,502,008 shares in the company, valued at $208,480,401.52. This represents a 0.02 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have purchased a total of 49,596 shares of company stock valued at $121,380 in the last 90 days. 23.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. XTX Topco Ltd acquired a new stake in Golden Matrix Group during the 2nd quarter worth approximately $30,000. Rhumbline Advisers bought a new position in shares of Golden Matrix Group in the 2nd quarter valued at about $43,000. Virtu Financial LLC increased its position in shares of 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 purchasing an additional 8,408 shares during the last quarter. Barclays PLC grew its stake in shares of 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 in the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Golden Matrix Group during the 2nd quarter worth about $91,000. Institutional investors and hedge funds own 2.74% of the company's 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.