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

Golden Matrix Group, Inc. (NASDAQ:GMGI) insider Aleksandar Milovanovic bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The shares were acquired at an average cost of $2.09 per share, with a total value of $10,450.00. Following the purchase, the insider now directly owns 79,465,291 shares of the company’s stock, valued at $166,082,458.19. This trade represents a 0.01 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

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

• On Thursday, February 20th, Aleksandar Milovanovic bought 2,000 shares of Golden Matrix Group stock. The shares were acquired at an average cost of $2.17 per share, with a total value of $4,340.00.
• On Thursday, February 27th, Aleksandar Milovanovic purchased 4,212 shares of Golden Matrix Group stock. The shares were purchased at an average price of $1.97 per share, for a total transaction of $8,297.64.
• On Tuesday, February 25th, Aleksandar Milovanovic bought 5,000 shares of Golden Matrix Group stock. The stock was bought at an average price of $2.04 per share, for a total transaction of $10,200.00.
• On Friday, March 21st, Aleksandar Milovanovic bought 140,000 shares of Golden Matrix Group stock. The shares were bought 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 purchased at an average cost of $2.17 per share, for a total transaction 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, with a total value of $108,000.00.
• On Tuesday, March 4th, Aleksandar Milovanovic bought 2,514 shares of Golden Matrix Group stock. The shares were bought at an average price 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 stock was 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 purchased at an average cost of $1.85 per share, for a total transaction of $37,000.00.

Golden Matrix Group Stock Performance

NASDAQ GMGI traded up $0.13 on Wednesday, reaching $2.01. 185,345 shares of the company’s stock traded hands, compared to its average volume of 147,859. Golden Matrix Group, Inc. has a 12 month low of $1.70 and a 12 month high of $6.27. The stock has a 50-day simple moving average of $1.99 and a 200 day simple moving average of $2.17. 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 initiated coverage on Golden Matrix Group in a report on Friday, February 21st. They issued a “buy” rating and a $4.00 price objective for the company.

Hedge Funds Weigh In On Golden Matrix Group

Several institutional investors and hedge funds have recently made changes to their positions in GMGI. Geode Capital Management LLC lifted its stake in Golden Matrix Group by 14.4% in the fourth quarter. Geode Capital Management LLC now owns 623,498 shares of the company’s stock worth $1,235,000 after purchasing an additional 78,427 shares during the last quarter. Northern Trust Corp grew its position in Golden Matrix Group by 6.7% during the 4th quarter. Northern Trust Corp now owns 169,308 shares of the company’s stock worth $335,000 after acquiring an additional 10,690 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Golden Matrix Group by 390.5% during the fourth quarter. Rhumbline Advisers now owns 106,449 shares of the company’s stock valued at $211,000 after purchasing an additional 84,749 shares during the period. JPMorgan Chase & Co. raised its holdings in Golden Matrix Group by 460.5% during the 4th quarter. JPMorgan Chase & Co. now owns 50,819 shares of the company’s stock valued at $101,000 after buying an additional 41,752 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in shares of Golden Matrix Group in the fourth quarter valued at about $84,000. Institutional investors 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.