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

Golden Matrix Group, Inc. (NASDAQ:GMGI) Director Thomas Mcchesney sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $2.12, for a total transaction of $15,900.00. Following the sale, 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 stock was sold at an average price of $2.13, for a total transaction of $547.41.

Golden Matrix Group Price Performance

GMGI stock opened at $2.04 on Friday. The stock’s 50 day simple moving average is $2.00 and its 200 day simple moving average is $2.19. The company has a quick ratio of 0.75, a current ratio of 0.82 and a debt-to-equity ratio of 0.18. Golden Matrix Group, Inc. has a fifty-two week low of $1.70 and a fifty-two week high of $6.27.

Institutional Investors Weigh In On Golden Matrix Group

Several hedge funds and other institutional investors have recently modified their holdings of GMGI. SG Americas Securities LLC acquired a new stake in Golden Matrix Group in the 4th quarter valued at $28,000. Kera Capital Partners Inc. bought a new position in shares of Golden Matrix Group in the fourth quarter valued at $40,000. Virtu Financial LLC grew its holdings in shares of Golden Matrix Group by 56.0% during the third quarter. Virtu Financial LLC now owns 23,431 shares of the company’s stock valued at $55,000 after buying an additional 8,408 shares during the last quarter. Barclays PLC grew 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 valued at $67,000 after buying an additional 22,420 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of 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 worth $80,000 after acquiring an additional 8,061 shares in the last quarter. Institutional investors own 2.74% of the company’s stock.

Analyst Upgrades and Downgrades

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