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

Golden Matrix Group, Inc. (NASDAQ:GMGI) insider Aleksandar Milovanovic bought 50,000 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was bought at an average price of $2.16 per share, for a total transaction of $108,000.00. Following the purchase, the insider now owns 79,214,552 shares in the company, valued at approximately $171,103,432.32. This represents a 0.06 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, March 4th, Aleksandar Milovanovic bought 2,514 shares of Golden Matrix Group stock. The stock was bought at an average price of $1.97 per share, for a total transaction of $4,952.58.
• On Tuesday, February 18th, Aleksandar Milovanovic bought 100,000 shares of Golden Matrix Group stock. The stock was bought at an average price of $1.86 per share, for a total transaction of $186,000.00.
• On Friday, February 14th, Aleksandar Milovanovic acquired 100,000 shares of Golden Matrix Group stock. The shares were acquired 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 acquired at an average price of $1.85 per share, for a total transaction of $37,000.00.
• On Monday, February 3rd, Aleksandar Milovanovic acquired 50,000 shares of Golden Matrix Group stock. The shares were acquired at an average price of $1.80 per share, for a total transaction of $90,000.00.

Golden Matrix Group Trading Down 2.9 %

GMGI opened at $2.03 on Thursday. Golden Matrix Group, Inc. has a fifty-two week low of $1.70 and a fifty-two week high of $6.27. The company’s 50-day moving average price is $2.01 and its 200 day moving average price is $2.22. The company has a current ratio of 0.82, a quick ratio of 0.75 and a debt-to-equity ratio of 0.18.

Institutional Investors Weigh In On Golden Matrix Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC grew its position in Golden Matrix Group by 6.3% in the 3rd quarter. Geode Capital Management LLC now owns 545,071 shares of the company’s stock worth $1,270,000 after purchasing an additional 32,182 shares during the last quarter. Barclays PLC grew its position in Golden Matrix Group by 332.6% in the 3rd quarter. Barclays PLC now owns 29,160 shares of the company’s stock worth $67,000 after purchasing an additional 22,420 shares during the last quarter. Rhumbline Advisers grew its position in Golden Matrix Group by 390.5% in the 4th quarter. Rhumbline Advisers now owns 106,449 shares of the company’s stock worth $211,000 after purchasing an additional 84,749 shares during the last quarter. SG Americas Securities LLC bought a new position in Golden Matrix Group in the 4th quarter worth about $28,000. Finally, Virtu Financial LLC grew its position in Golden Matrix Group by 56.0% in 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. Institutional investors and hedge funds own 2.74% of the company’s stock.

Analysts Set New Price Targets

Separately, Maxim Group initiated 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.