Golden Matrix Group, Inc. (NASDAQ:GMGI) Insider Aleksandar Milovanovic Acquires 50,000 Shares

Golden Matrix Group, Inc. (NASDAQ:GMGI) insider Aleksandar Milovanovic acquired 50,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was bought at an average price of $2.16 per share, with a total value of $108,000.00. Following the completion of the acquisition, the insider now directly owns 79,214,552 shares of the company’s stock, valued at approximately $171,103,432.32. This represents a 0.06 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

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

• On Tuesday, March 4th, Aleksandar Milovanovic acquired 2,514 shares of Golden Matrix Group stock. The stock was bought at an average price of $1.97 per share, with a total value of $4,952.58.
• On Tuesday, February 18th, Aleksandar Milovanovic acquired 100,000 shares of Golden Matrix Group stock. The stock was bought at an average price of $1.86 per share, with a total value of $186,000.00.
• On Friday, February 14th, Aleksandar Milovanovic acquired 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 stock was bought at an average price of $1.85 per share, with a total value of $37,000.00.
• On Monday, February 3rd, Aleksandar Milovanovic bought 50,000 shares of Golden Matrix Group stock. The shares were acquired at an average price of $1.80 per share, with a total value of $90,000.00.

Golden Matrix Group Stock Performance

Shares of NASDAQ:GMGI opened at $2.03 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.75 and a current ratio of 0.82. 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 simple moving average of $2.01 and a 200 day simple moving average of $2.22.

Wall Street Analysts Forecast Growth

Separately, Maxim Group initiated coverage on shares of Golden Matrix Group in a report on Friday, February 21st. They set a “buy” rating and a $4.00 target price for the company.

Institutional Investors Weigh In On Golden Matrix Group

Several hedge funds have recently made changes to their positions in GMGI. Barclays PLC lifted its position in shares of Golden Matrix Group by 332.6% in the 3rd quarter. Barclays PLC now owns 29,160 shares of the company’s stock valued at $67,000 after acquiring an additional 22,420 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Golden Matrix Group by 6.3% during the 3rd quarter. Geode Capital Management LLC now owns 545,071 shares of the company’s stock valued at $1,270,000 after buying an additional 32,182 shares during the period. Virtu Financial LLC boosted its stake in shares of 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 buying an additional 8,408 shares during the period. Kera Capital Partners Inc. acquired a new stake in shares of Golden Matrix Group during the 4th quarter valued at $40,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Golden Matrix Group during the 4th quarter valued at $28,000. Hedge funds and other institutional investors own 2.74% of the company’s stock.

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.