Golden Matrix Group, Inc. (NASDAQ:GMGI) Insider Buys $274,400.00 in Stock

Golden Matrix Group, Inc. (NASDAQ:GMGI) insider Aleksandar Milovanovic acquired 140,000 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The stock was purchased at an average price of $1.96 per share, for a total transaction of $274,400.00. Following the acquisition, the insider now directly owns 79,460,291 shares of the company’s stock, valued at $155,742,170.36. The trade was a 0.18 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

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 acquired at an average price of $2.17 per share, for a total transaction of $4,340.00.
• On Thursday, February 27th, Aleksandar Milovanovic purchased 4,212 shares of Golden Matrix Group stock. The shares were acquired 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 shares were acquired at an average cost of $2.04 per share, for a total transaction of $10,200.00.
• On Friday, March 14th, Aleksandar Milovanovic purchased 50,000 shares of Golden Matrix Group stock. The stock was bought at an average cost 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 bought 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 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 shares were bought at an average price 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 stock was purchased at an average price 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 price of $1.85 per share, for a total transaction of $37,000.00.
• On Monday, February 3rd, Aleksandar Milovanovic bought 50,000 shares of Golden Matrix Group stock. The shares were purchased at an average cost of $1.80 per share, with a total value of $90,000.00.

Golden Matrix Group Price Performance

Shares of GMGI stock opened at $2.10 on Friday. Golden Matrix Group, Inc. has a 12 month low of $1.70 and a 12 month high of $6.27. The company has a current ratio of 0.82, a quick ratio of 0.75 and a debt-to-equity ratio of 0.18. The stock has a 50 day moving average of $2.00 and a 200-day moving average of $2.20.

Analyst Upgrades and Downgrades

Separately, Maxim Group started coverage on 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

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its holdings in 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. Virtu Financial LLC raised its position 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 valued at $55,000 after buying an additional 8,408 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Golden Matrix Group by 6.7% in the fourth quarter. Northern Trust Corp now owns 169,308 shares of the company’s stock valued at $335,000 after buying an additional 10,690 shares during the period. SG Americas Securities LLC bought a new position in Golden Matrix Group during the fourth quarter valued at about $28,000. Finally, Kera Capital Partners Inc. bought a new position in Golden Matrix Group during the fourth quarter valued at about $40,000. 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.