Maxim Group Begins Coverage on Golden Matrix Group (NASDAQ:GMGI)

Research analysts at Maxim Group assumed coverage on shares of Golden Matrix Group (NASDAQ:GMGI) in a report issued on Friday, Marketbeat reports. The brokerage set a “buy” rating and a $4.00 price target on the stock. Maxim Group’s target price would indicate a potential upside of 86.05% from the company’s previous close.

Golden Matrix Group Stock Up 0.5 %

GMGI stock opened at $2.15 on Friday. 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 has a one year low of $1.70 and a one year high of $6.27. The firm has a 50-day moving average of $1.99 and a two-hundred day moving average of $2.25.

Insider Buying and Selling at Golden Matrix Group

In other news, insider Aleksandar Milovanovic acquired 100,000 shares of Golden Matrix Group stock in a transaction on Friday, February 14th. The stock was bought at an average cost of $1.85 per share, with a total value of $185,000.00. Following the completion of the purchase, the insider now owns 78,414,616 shares of the company’s stock, valued at $145,067,039.60. This represents a 0.13 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders bought 270,000 shares of company stock valued at $498,000. 23.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Golden Matrix Group

Large investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in shares of Golden Matrix Group in the 4th quarter valued at about $28,000. Kera Capital Partners Inc. acquired a new position in shares of Golden Matrix Group in the 4th quarter valued at about $40,000. Virtu Financial LLC increased its holdings in shares of Golden Matrix Group by 56.0% in the 3rd quarter. Virtu Financial LLC now owns 23,431 shares of the company’s stock valued at $55,000 after purchasing an additional 8,408 shares during the period. Barclays PLC increased its holdings 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 purchasing an additional 22,420 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Golden Matrix Group by 24.7% in the 4th quarter. Bank of New York Mellon Corp now owns 40,632 shares of the company’s stock valued at $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.

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.