Golden Matrix Group (NASDAQ:GMGI) Research Coverage Started at Maxim Group

Maxim Group initiated coverage on shares of Golden Matrix Group (NASDAQ:GMGI) in a research note released on Friday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $4.00 price target on the stock.

Golden Matrix Group Trading Up 0.5 %

Shares of NASDAQ GMGI opened at $2.15 on Friday. The company has a 50 day simple moving average of $1.99 and a two-hundred day simple moving average of $2.25. Golden Matrix Group has a fifty-two week low of $1.70 and a fifty-two week high of $6.27. The company has a quick ratio of 0.75, a current ratio of 0.82 and a debt-to-equity ratio of 0.18.

Insider Activity at Golden Matrix Group

In other news, insider Aleksandar Milovanovic acquired 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were bought at an average cost of $1.85 per share, with a total value of $37,000.00. Following the transaction, the insider now owns 77,934,616 shares of the company’s stock, valued at $144,179,039.60. This trade represents a 0.03 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders purchased a total of 270,000 shares of company stock valued at $498,000 in the last 90 days. Corporate insiders own 23.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GMGI. Squarepoint Ops LLC bought a new stake in shares of Golden Matrix Group during the fourth quarter valued at approximately $84,000. Northern Trust Corp boosted its stake in 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 purchasing an additional 10,690 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Golden Matrix Group by 14.4% in the 4th quarter. Geode Capital Management LLC now owns 623,498 shares of the company’s stock worth $1,235,000 after purchasing an additional 78,427 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Golden Matrix Group by 460.5% in the fourth quarter. JPMorgan Chase & Co. now owns 50,819 shares of the company’s stock worth $101,000 after purchasing an additional 41,752 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Golden Matrix Group by 24.7% during 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 in the last quarter. 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.