Thomas Mcchesney Sells 7,500 Shares of Golden Matrix Group, Inc. (NASDAQ:GMGI) Stock

Golden Matrix Group, Inc. (NASDAQ:GMGI) Director Thomas Mcchesney sold 7,500 shares of Golden Matrix Group stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $2.12, for a total transaction of $15,900.00. Following the completion of the transaction, the director now directly owns 271,897 shares of the company’s stock, valued at approximately $576,421.64. This trade represents a 2.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Thomas Mcchesney also recently made the following trade(s):

• On Friday, March 28th, Thomas Mcchesney sold 257 shares of Golden Matrix Group stock. The shares were sold at an average price of $2.13, for a total transaction of $547.41.

Golden Matrix Group Trading Down 2.9 %

GMGI opened at $2.04 on Monday. The stock’s fifty day simple moving average is $2.00 and its 200 day simple moving average is $2.19. Golden Matrix Group, Inc. has a 1-year low of $1.70 and a 1-year high of $6.27. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.75 and a current ratio of 0.82.

Wall Street Analyst Weigh In

Separately, Maxim Group started coverage on Golden Matrix Group in a research report on Friday, February 21st. They set a “buy” rating and a $4.00 price target on the stock.

Hedge Funds Weigh In On Golden Matrix Group

Several institutional investors and hedge funds have recently modified their holdings of GMGI. SG Americas Securities LLC acquired a new stake in shares of Golden Matrix Group during the 4th quarter worth about $28,000. Kera Capital Partners Inc. bought a new position in Golden Matrix Group in the 4th quarter valued at about $40,000. Virtu Financial LLC lifted its position in Golden Matrix Group by 56.0% during the third quarter. Virtu Financial LLC now owns 23,431 shares of the company’s stock worth $55,000 after acquiring an additional 8,408 shares during the last quarter. Barclays PLC boosted its holdings in shares of 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 acquiring an additional 22,420 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Golden Matrix Group by 24.7% in the fourth quarter. Bank of New York Mellon Corp now owns 40,632 shares of the company’s stock valued at $80,000 after purchasing an additional 8,061 shares during the last quarter. 2.74% of the stock is currently owned by institutional investors and hedge funds.

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.