Aleksandar Milovanovic Buys 50,000 Shares of Golden Matrix Group, Inc. (NASDAQ:GMGI) Stock

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

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

• On Friday, March 7th, Aleksandar Milovanovic bought 50,000 shares of Golden Matrix Group stock. The shares were purchased at an average price 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 shares were purchased at an average price of $1.97 per share, for a total transaction of $4,952.58.
• On Tuesday, February 18th, Aleksandar Milovanovic acquired 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 shares were bought at an average price of $1.85 per share, for a total transaction of $185,000.00.
• On Wednesday, February 5th, Aleksandar Milovanovic acquired 20,000 shares of Golden Matrix Group stock. The shares were bought at an average price of $1.85 per share, for a total transaction of $37,000.00.
• On Monday, February 3rd, Aleksandar Milovanovic acquired 50,000 shares of Golden Matrix Group stock. The shares were bought at an average price of $1.80 per share, for a total transaction of $90,000.00.

Golden Matrix Group Stock Up 2.0 %

GMGI stock opened at $2.09 on Wednesday. The firm has a fifty day moving average price of $2.01 and a 200 day moving average price of $2.21. 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 debt-to-equity ratio of 0.18, a current ratio of 0.82 and a quick ratio of 0.75.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC grew its holdings in shares of Golden Matrix Group by 6.3% in the third 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. Rhumbline Advisers grew its holdings 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 valued at $211,000 after purchasing an additional 84,749 shares in the last quarter. Barclays PLC grew its holdings in shares of Golden Matrix Group by 332.6% in the third 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. SG Americas Securities LLC purchased a new position in shares of Golden Matrix Group in the fourth quarter valued at $28,000. Finally, Virtu Financial LLC grew its holdings 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 valued at $55,000 after purchasing an additional 8,408 shares in the last quarter. 2.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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