Insider Buying: Golden Matrix Group, Inc. (NASDAQ:GMGI) Insider Buys $185,000.00 in Stock

Golden Matrix Group, Inc. (NASDAQ:GMGI) insider Aleksandar Milovanovic acquired 100,000 shares of Golden Matrix Group stock in a transaction on Friday, February 14th. The shares were bought at an average cost of $1.85 per share, for a total transaction of $185,000.00. Following the completion of the transaction, the insider now owns 78,414,616 shares in the company, valued at approximately $145,067,039.60. This trade represents a 0.13 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, February 18th, Aleksandar Milovanovic bought 100,000 shares of Golden Matrix Group stock. The shares were bought at an average cost of $1.86 per share, for a total transaction of $186,000.00.
• On Wednesday, February 5th, Aleksandar Milovanovic purchased 20,000 shares of Golden Matrix Group stock. The stock was bought at an average cost of $1.85 per share, with a total value of $37,000.00.
• On Monday, February 3rd, Aleksandar Milovanovic acquired 50,000 shares of Golden Matrix Group stock. The stock was bought at an average price of $1.80 per share, with a total value of $90,000.00.

Golden Matrix Group Stock Performance

GMGI opened at $2.15 on Friday. 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 stock has a fifty day simple moving average of $1.99 and a two-hundred day simple moving average of $2.25. Golden Matrix Group, Inc. has a 12-month low of $1.70 and a 12-month high of $6.27.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp boosted its stake in Golden Matrix Group by 24.7% during the fourth quarter. Bank of New York Mellon Corp now owns 40,632 shares of the company’s stock worth $80,000 after acquiring an additional 8,061 shares in the last quarter. Virtu Financial LLC increased its stake in shares of Golden Matrix Group by 56.0% during the third 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. Northern Trust Corp lifted its holdings in shares of Golden Matrix Group by 6.7% during the fourth quarter. Northern Trust Corp now owns 169,308 shares of the company’s stock valued at $335,000 after purchasing an additional 10,690 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Golden Matrix Group in the 4th quarter worth approximately $28,000. Finally, Kera Capital Partners Inc. purchased a new stake in shares of Golden Matrix Group in the 4th quarter worth approximately $40,000. 2.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Maxim Group initiated coverage on Golden Matrix Group in a research report on Friday. They issued a “buy” rating and a $4.00 target price for the company.

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.