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

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

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 shares were acquired at an average cost 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 shares were acquired at an average cost of $1.86 per share, for a total transaction of $186,000.00.
• On Friday, February 14th, Aleksandar Milovanovic bought 100,000 shares of Golden Matrix Group stock. The shares were acquired at an average cost of $1.85 per share, for a total transaction 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, for a total transaction 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, for a total transaction of $90,000.00.

Golden Matrix Group Stock Performance

NASDAQ GMGI traded down $0.04 during midday trading on Monday, hitting $2.06. 51,328 shares of the company traded hands, compared to its average volume of 139,841. Golden Matrix Group, Inc. has a 52 week low of $1.70 and a 52 week high of $6.27. The company’s 50-day simple moving average is $2.01 and its 200-day simple moving average is $2.23. The company has a quick ratio of 0.75, a current ratio of 0.82 and a debt-to-equity ratio of 0.18.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Golden Matrix Group

Hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its stake in shares of Golden Matrix Group by 6.3% during 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 lifted its stake in shares of Golden Matrix Group by 332.6% during 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. SG Americas Securities LLC purchased a new stake in shares of Golden Matrix Group during the 4th quarter worth $28,000. Virtu Financial LLC lifted its stake in shares of Golden Matrix Group by 56.0% during 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. Finally, Kera Capital Partners Inc. purchased a new stake in shares of Golden Matrix Group during the 4th quarter worth $40,000. 2.74% of the stock is currently owned by hedge funds and other institutional investors.

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.