Insider Buying: Golden Matrix Group, Inc. (NASDAQ:GMGI) Insider Purchases 50,000 Shares of Stock

Golden Matrix Group, Inc. (NASDAQ:GMGI) insider Aleksandar Milovanovic purchased 50,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was bought at an average price of $2.17 per share, for a total transaction of $108,500.00. Following the transaction, the insider now directly owns 79,264,552 shares in the company, valued at $172,004,077.84. This trade represents a 0.06 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Friday, March 7th, Aleksandar Milovanovic purchased 50,000 shares of Golden Matrix Group stock. The stock was acquired at an average price of $2.16 per share, for a total transaction of $108,000.00.
• On Tuesday, March 4th, Aleksandar Milovanovic purchased 2,514 shares of Golden Matrix Group stock. The shares were bought at an average cost of $1.97 per share, for a total transaction of $4,952.58.
• On Tuesday, February 18th, Aleksandar Milovanovic bought 100,000 shares of Golden Matrix Group stock. The stock was bought at an average cost 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 purchased at an average cost of $1.85 per share, with a total value of $185,000.00.
• On Wednesday, February 5th, Aleksandar Milovanovic purchased 20,000 shares of Golden Matrix Group stock. The stock was purchased at an average price of $1.85 per share, with a total value of $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 Trading Down 1.9 %

Shares of NASDAQ GMGI traded down $0.04 on Monday, reaching $2.05. 42,493 shares of the company traded hands, compared to its average volume of 140,836. Golden Matrix Group, Inc. has a fifty-two week low of $1.70 and a fifty-two week 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 company has a 50 day moving average of $2.01 and a 200 day moving average of $2.21.

Analysts Set New Price Targets

Separately, Maxim Group assumed coverage on Golden Matrix Group in a research report on Friday, February 21st. They issued a “buy” rating and a $4.00 price objective on the stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GMGI. Bank of New York Mellon Corp raised its position in Golden Matrix Group by 24.7% in the fourth 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 boosted its position in shares of Golden Matrix Group by 56.0% in the third quarter. Virtu Financial LLC now owns 23,431 shares of the company’s stock worth $55,000 after buying an additional 8,408 shares during the period. Northern Trust Corp grew 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 in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Golden Matrix Group during the 4th quarter valued at about $28,000. Finally, Kera Capital Partners Inc. acquired a new position in Golden Matrix Group during the 4th quarter worth approximately $40,000. 2.74% of the stock is owned by institutional investors and hedge funds.

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.