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

Golden Matrix Group, Inc. (NASDAQ:GMGI) insider Aleksandar Milovanovic bought 50,000 shares of Golden Matrix Group stock in a transaction dated Friday, March 14th. The shares were acquired at an average price of $2.17 per share, with a total value of $108,500.00. Following the completion of the purchase, the insider now owns 79,264,552 shares in the company, valued at approximately $172,004,077.84. The trade was a 0.06 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 price of $2.16 per share, for a total transaction of $108,000.00.
• On Tuesday, March 4th, Aleksandar Milovanovic purchased 2,514 shares of Golden Matrix Group stock. The shares were purchased at an average cost of $1.97 per share, for a total transaction of $4,952.58.
• On Tuesday, February 18th, Aleksandar Milovanovic purchased 100,000 shares of Golden Matrix Group stock. The stock was acquired 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 stock was bought at an average price of $1.85 per share, with a total value of $185,000.00.
• On Wednesday, February 5th, Aleksandar Milovanovic acquired 20,000 shares of Golden Matrix Group stock. The shares were bought at an average price 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 purchased at an average cost of $1.80 per share, for a total transaction of $90,000.00.

Golden Matrix Group Price Performance

Golden Matrix Group stock traded down $0.04 during midday trading on Monday, hitting $2.05. The company’s stock had a trading volume of 42,493 shares, compared to its average volume of 140,836. 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 stock’s 50-day moving average price is $2.01 and its 200-day moving average price is $2.21.

Institutional Investors Weigh In On Golden Matrix Group

Large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its position 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 valued at $80,000 after buying an additional 8,061 shares during the period. Virtu Financial LLC grew its stake in Golden Matrix Group by 56.0% during the 3rd quarter. Virtu Financial LLC now owns 23,431 shares of the company’s stock valued at $55,000 after acquiring an additional 8,408 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Golden Matrix Group by 6.7% in the 4th 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 period. SG Americas Securities LLC purchased a new stake in shares of Golden Matrix Group in the fourth quarter worth approximately $28,000. Finally, Kera Capital Partners Inc. acquired a new stake in shares of Golden Matrix Group during the fourth quarter worth approximately $40,000. Institutional investors and hedge funds own 2.74% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Golden Matrix Group Company Profile

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.