Golden Matrix Group, Inc. (NASDAQ:GMGI) Short Interest Update

Golden Matrix Group, Inc. (NASDAQ:GMGI) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totalling 1,380,000 shares, an increase of 7.0% from the December 15th total of 1,290,000 shares. Currently, 7.2% of the company’s shares are short sold. Based on an average daily volume of 101,400 shares, the days-to-cover ratio is currently 13.6 days.

Insiders Place Their Bets

In related news, insider Aleksandar Milovanovic bought 25,000 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The shares were acquired at an average cost of $2.35 per share, with a total value of $58,750.00. Following the completion of the purchase, the insider now directly owns 77,462,970 shares in the company, valued at $182,037,979.50. The trade was a 0.03 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders acquired 49,596 shares of company stock worth $121,380. 23.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in shares of Golden Matrix Group by 6.3% during the third 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 period. Barclays PLC raised its holdings in 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 buying an additional 22,420 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Golden Matrix Group by 675.9% in the second quarter. Renaissance Technologies LLC now owns 131,900 shares of the company’s stock valued at $326,000 after buying an additional 114,900 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Golden Matrix Group during the second quarter worth about $91,000. Finally, XTX Topco Ltd acquired a new stake in shares of Golden Matrix Group in the 2nd quarter worth about $30,000. Institutional investors own 2.74% of the company’s stock.

Golden Matrix Group Stock Performance

GMGI stock opened at $2.04 on Tuesday. 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 company’s 50-day moving average is $2.21 and its 200-day moving average is $2.33. Golden Matrix Group has a 1 year low of $1.86 and a 1 year high of $6.27.

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.