Insider Buying: Golden Matrix Group, Inc. (NASDAQ:GMGI) Insider Buys 5,000 Shares of Stock

Golden Matrix Group, Inc. (NASDAQ:GMGI) insider Aleksandar Milovanovic acquired 5,000 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were purchased at an average cost of $2.04 per share, for a total transaction of $10,200.00. Following the acquisition, the insider now owns 79,177,938 shares of the company’s stock, valued at approximately $161,522,993.52. The trade was a 0.01 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Thursday, February 20th, Aleksandar Milovanovic purchased 2,000 shares of Golden Matrix Group stock. The shares were purchased at an average price of $2.17 per share, for a total transaction of $4,340.00.
• On Thursday, February 27th, Aleksandar Milovanovic acquired 4,212 shares of Golden Matrix Group stock. The stock was purchased at an average price of $1.97 per share, with a total value of $8,297.64.
• On Friday, March 21st, Aleksandar Milovanovic bought 140,000 shares of Golden Matrix Group stock. The shares were acquired at an average price of $1.96 per share, for a total transaction of $274,400.00.
• On Friday, March 14th, Aleksandar Milovanovic purchased 50,000 shares of Golden Matrix Group stock. The stock was acquired at an average price of $2.17 per share, with a total value of $108,500.00.
• On Friday, March 7th, Aleksandar Milovanovic acquired 50,000 shares of Golden Matrix Group stock. The shares were acquired at an average cost of $2.16 per share, for a total transaction of $108,000.00.
• On Tuesday, March 4th, Aleksandar Milovanovic bought 2,514 shares of Golden Matrix Group stock. The stock was acquired at an average cost of $1.97 per share, with a total value of $4,952.58.
• On Tuesday, February 18th, Aleksandar Milovanovic purchased 100,000 shares of Golden Matrix Group stock. The shares were bought at an average cost of $1.86 per share, for a total transaction of $186,000.00.
• On Friday, February 14th, Aleksandar Milovanovic acquired 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 stock was bought at an average price of $1.85 per share, for a total transaction of $37,000.00.
• On Monday, February 3rd, Aleksandar Milovanovic purchased 50,000 shares of Golden Matrix Group stock. The shares were bought at an average price of $1.80 per share, with a total value of $90,000.00.

Golden Matrix Group Stock Down 2.3 %

NASDAQ GMGI opened at $2.10 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.82 and a quick ratio of 0.75. Golden Matrix Group, Inc. has a 52-week low of $1.70 and a 52-week high of $6.27. The firm has a 50-day moving average price of $2.00 and a 200 day moving average price of $2.20.

Analysts Set New Price Targets

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 objective on the stock.

Hedge Funds Weigh In On Golden Matrix Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in GMGI. SG Americas Securities LLC acquired a new stake in shares of Golden Matrix Group in the 4th quarter valued at approximately $28,000. Kera Capital Partners Inc. purchased a new position in Golden Matrix Group in the fourth quarter worth $40,000. Virtu Financial LLC lifted its holdings in Golden Matrix Group by 56.0% in the third 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 during the period. Barclays PLC boosted its position 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 in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Golden Matrix Group by 24.7% during the 4th quarter. Bank of New York Mellon Corp now owns 40,632 shares of the company’s stock worth $80,000 after purchasing an additional 8,061 shares during the period. Institutional investors and hedge funds own 2.74% of the company’s 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.