Golden Matrix Group, Inc. (NASDAQ:GMGI) Insider Buys $108,500.00 in Stock

Golden Matrix Group, Inc. (NASDAQ:GMGI) insider Aleksandar Milovanovic acquired 50,000 shares of the company’s stock in a transaction on Friday, March 14th. The shares were purchased at an average cost of $2.17 per share, with a total value of $108,500.00. Following the completion of the purchase, the insider now directly owns 79,264,552 shares of the company’s stock, valued at $172,004,077.84. This trade represents a 0.06 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, March 7th, Aleksandar Milovanovic acquired 50,000 shares of Golden Matrix Group stock. The shares were purchased at an average cost of $2.16 per share, with a total value of $108,000.00.
• On Tuesday, March 4th, Aleksandar Milovanovic acquired 2,514 shares of Golden Matrix Group stock. The shares were purchased at an average cost of $1.97 per share, with a total value of $4,952.58.
• On Tuesday, February 18th, Aleksandar Milovanovic acquired 100,000 shares of Golden Matrix Group stock. The shares were purchased at an average cost of $1.86 per share, with a total value of $186,000.00.
• On Friday, February 14th, Aleksandar Milovanovic bought 100,000 shares of Golden Matrix Group stock. The shares were bought at an average cost of $1.85 per share, with a total value of $185,000.00.
• On Wednesday, February 5th, Aleksandar Milovanovic bought 20,000 shares of Golden Matrix Group stock. The shares were bought at an average cost of $1.85 per share, with a total value of $37,000.00.
• On Monday, February 3rd, Aleksandar Milovanovic bought 50,000 shares of Golden Matrix Group stock. The shares were bought at an average cost of $1.80 per share, with a total value of $90,000.00.

Golden Matrix Group Stock Up 2.0 %

Shares of GMGI opened at $2.09 on Wednesday. Golden Matrix Group, Inc. has a 12-month low of $1.70 and a 12-month high of $6.27. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.82 and a quick ratio of 0.75. The firm has a fifty day moving average price of $2.01 and a 200-day moving average price of $2.21.

Institutional Trading of Golden Matrix Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Rhumbline Advisers lifted its stake in Golden Matrix Group by 390.5% in the fourth quarter. Rhumbline Advisers now owns 106,449 shares of the company’s stock worth $211,000 after acquiring an additional 84,749 shares during the period. Geode Capital Management LLC lifted its stake in Golden Matrix Group by 14.4% in the fourth quarter. Geode Capital Management LLC now owns 623,498 shares of the company’s stock worth $1,235,000 after acquiring an additional 78,427 shares during the period. Squarepoint Ops LLC purchased a new stake in Golden Matrix Group in the fourth quarter worth about $84,000. JPMorgan Chase & Co. lifted its stake in Golden Matrix Group by 460.5% in the fourth quarter. JPMorgan Chase & Co. now owns 50,819 shares of the company’s stock worth $101,000 after acquiring an additional 41,752 shares during the period. Finally, Barclays PLC lifted its stake in Golden Matrix Group by 332.6% in 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. 2.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Maxim Group began coverage on shares of Golden Matrix Group in a research note on Friday, February 21st. They set 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.