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

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

Golden Matrix Group Price Performance

Shares of GMGI opened at $1.84 on Tuesday. Golden Matrix Group has a fifty-two week low of $1.70 and a fifty-two week high of $6.27. The stock has a fifty day moving average of $2.08 and a two-hundred day moving average of $2.30. The company has a current ratio of 0.82, a quick ratio of 0.75 and a debt-to-equity ratio of 0.18.

Golden Matrix Group (NASDAQ:GMGI) last released its earnings results on Tuesday, November 12th. The company reported ($0.03) earnings per share (EPS) for the quarter. The company had revenue of $40.99 million during the quarter. Golden Matrix Group had a negative return on equity of 3.93% and a negative net margin of 3.07%. Equities research analysts forecast that Golden Matrix Group will post 0.03 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Aleksandar Milovanovic acquired 14,038 shares of Golden Matrix Group stock in a transaction that occurred on Wednesday, November 6th. The shares were acquired at an average price of $2.69 per share, with a total value of $37,762.22. Following the completion of the purchase, the insider now owns 77,502,008 shares of the company’s stock, valued at approximately $208,480,401.52. This represents a 0.02 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 23.20% of the company’s stock.

Hedge Funds Weigh In On Golden Matrix Group

A number of large investors have recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in Golden Matrix Group by 6.3% in the 3rd quarter. Geode Capital Management LLC now owns 545,071 shares of the company’s stock valued at $1,270,000 after purchasing an additional 32,182 shares in the last quarter. Barclays PLC raised its stake 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 in the last quarter. Renaissance Technologies LLC raised its stake in Golden Matrix Group by 675.9% during 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 position in Golden Matrix Group during the second quarter worth $91,000. Finally, Virtu Financial LLC raised its holdings in shares of Golden Matrix Group by 56.0% during the third quarter. Virtu Financial LLC now owns 23,431 shares of the company’s stock worth $55,000 after purchasing an additional 8,408 shares during the period. 2.74% of the stock is currently owned by hedge funds and other institutional investors.

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.