Golden Matrix Group, Inc. (NASDAQ:GMGI) Director Thomas Mcchesney Sells 7,500 Shares

Golden Matrix Group, Inc. (NASDAQ:GMGI) Director Thomas Mcchesney sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $2.12, for a total transaction of $15,900.00. Following the completion of the transaction, the director now owns 271,897 shares of the company’s stock, valued at approximately $576,421.64. The trade was a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Thomas Mcchesney also recently made the following trade(s):

• On Friday, March 28th, Thomas Mcchesney sold 257 shares of Golden Matrix Group stock. The shares were sold at an average price of $2.13, for a total transaction of $547.41.

Golden Matrix Group Stock Down 2.9 %

Shares of Golden Matrix Group stock opened at $2.04 on Friday. Golden Matrix Group, Inc. has a 1 year low of $1.70 and a 1 year high of $6.27. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.82 and a quick ratio of 0.75. The stock has a 50-day moving average price of $2.00 and a 200 day moving average price of $2.19.

Wall Street Analyst Weigh In

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

Institutional Trading of Golden Matrix Group

A number of hedge funds have recently made changes to their positions in GMGI. Geode Capital Management LLC grew its position in Golden Matrix Group by 14.4% during the fourth quarter. Geode Capital Management LLC now owns 623,498 shares of the company’s stock valued at $1,235,000 after purchasing an additional 78,427 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Golden Matrix Group by 6.7% during the 4th quarter. Northern Trust Corp now owns 169,308 shares of the company’s stock valued at $335,000 after acquiring an additional 10,690 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Golden Matrix Group by 390.5% in the fourth quarter. Rhumbline Advisers now owns 106,449 shares of the company’s stock worth $211,000 after acquiring an additional 84,749 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Golden Matrix Group by 460.5% during the fourth quarter. JPMorgan Chase & Co. now owns 50,819 shares of the company’s stock worth $101,000 after acquiring an additional 41,752 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in shares of Golden Matrix Group during the fourth quarter worth $84,000. 2.74% of the stock is owned by hedge funds and other institutional investors.

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.