What is Zacks Small Cap's Forecast for GMGI FY2024 Earnings?

Golden Matrix Group, Inc. (NASDAQ:GMGI - Free Report) - Stock analysts at Zacks Small Cap issued their FY2024 earnings per share (EPS) estimates for shares of Golden Matrix Group in a research report issued to clients and investors on Monday, January 27th. Zacks Small Cap analyst M. Marin expects that the company will post earnings of $0.03 per share for the year. Zacks Small Cap also issued estimates for Golden Matrix Group's Q4 2024 earnings at $0.01 EPS and FY2025 earnings at $0.08 EPS.

Golden Matrix Group (NASDAQ:GMGI - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported ($0.03) earnings per share for the quarter. Golden Matrix Group had a negative return on equity of 3.93% and a negative net margin of 3.07%. The firm had revenue of $40.99 million during the quarter.

Golden Matrix Group Price Performance

NASDAQ GMGI traded down $0.04 during mid-day trading on Thursday, hitting $1.91. The company's stock had a trading volume of 99,705 shares, compared to its average volume of 123,146. 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 52-week low of $1.86 and a 52-week high of $6.27. The stock's fifty day simple moving average is $2.12 and its two-hundred day simple moving average is $2.31.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GMGI. SG Americas Securities LLC purchased a new position in Golden Matrix Group in the 4th quarter valued at about $28,000. XTX Topco Ltd purchased a new position in Golden Matrix Group in the second quarter valued at about $30,000. Kera Capital Partners Inc. acquired a new stake in Golden Matrix Group during the 4th quarter valued at approximately $40,000. Rhumbline Advisers purchased a new stake in Golden Matrix Group during the 2nd quarter worth approximately $43,000. Finally, Virtu Financial LLC raised its position in shares of Golden Matrix Group by 56.0% in the 3rd quarter. Virtu Financial LLC now owns 23,431 shares of the company's stock valued at $55,000 after purchasing an additional 8,408 shares in the last quarter. 2.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Aleksandar Milovanovic purchased 14,038 shares of the firm's stock in a transaction on Wednesday, November 6th. The stock was purchased at an average price of $2.69 per share, for a total transaction of $37,762.22. Following the acquisition, the insider now directly owns 77,502,008 shares in the company, valued at $208,480,401.52. The trade was a 0.02 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 23.20% of the company's 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.