Golden Matrix Group (NASDAQ:GMGI) Stock Price Down 8.7%

Golden Matrix Group, Inc. (NASDAQ:GMGI) fell 8.7% during trading on Friday . The company traded as low as $3.15 and last traded at $3.16. 66,835 shares changed hands during mid-day trading, an increase of 15% from the average session volume of 58,100 shares. The stock had previously closed at $3.46.

Golden Matrix Group Stock Down 8.7 %

The stock’s 50-day simple moving average is $2.93 and its 200 day simple moving average is $2.66. The company has a market cap of $115.72 million, a price-to-earnings ratio of -158.00 and a beta of 0.53.

Golden Matrix Group (NASDAQ:GMGI) last posted its earnings results on Wednesday, January 17th. The company reported $0.02 EPS for the quarter. Golden Matrix Group had a negative net margin of 1.45% and a negative return on equity of 2.10%. The company had revenue of $11.78 million for the quarter.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Virtu Financial LLC acquired a new position in Golden Matrix Group in the fourth quarter valued at about $28,000. State Street Corp acquired a new stake in shares of Golden Matrix Group during the second quarter worth about $51,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Golden Matrix Group during the fourth quarter worth about $53,000. Northern Trust Corp acquired a new stake in shares of Golden Matrix Group during the second quarter worth about $59,000. Finally, Citadel Advisors LLC lifted its position in shares of Golden Matrix Group by 93.5% during the third quarter. Citadel Advisors LLC now owns 23,786 shares of the company’s stock worth $69,000 after purchasing an additional 11,494 shares in the last quarter. 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.