Aleksandar Milovanovic Buys 140,000 Shares of Golden Matrix Group, Inc. (NASDAQ:GMGI) Stock

Golden Matrix Group, Inc. (NASDAQ:GMGI) insider Aleksandar Milovanovic purchased 140,000 shares of Golden Matrix Group stock in a transaction dated Friday, March 21st. The stock was bought at an average cost of $1.96 per share, with a total value of $274,400.00. Following the completion of the purchase, the insider now owns 79,460,291 shares in the company, valued at approximately $155,742,170.36. This trade represents a 0.18 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Thursday, February 20th, Aleksandar Milovanovic bought 2,000 shares of Golden Matrix Group stock. The shares were purchased at an average cost of $2.17 per share, for a total transaction of $4,340.00.
• On Thursday, February 27th, Aleksandar Milovanovic purchased 4,212 shares of Golden Matrix Group stock. The shares were purchased at an average cost of $1.97 per share, with a total value of $8,297.64.
• On Tuesday, February 25th, Aleksandar Milovanovic acquired 5,000 shares of Golden Matrix Group stock. The stock was purchased at an average price of $2.04 per share, with a total value of $10,200.00.
• On Friday, March 14th, Aleksandar Milovanovic purchased 50,000 shares of Golden Matrix Group stock. The stock was acquired at an average price of $2.17 per share, for a total transaction of $108,500.00.
• On Friday, March 7th, Aleksandar Milovanovic acquired 50,000 shares of Golden Matrix Group stock. The stock was acquired at an average cost 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 acquired at an average cost of $1.97 per share, with a total value of $4,952.58.
• On Tuesday, February 18th, Aleksandar Milovanovic purchased 100,000 shares of Golden Matrix Group stock. The stock was acquired 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 cost of $1.85 per share, with a total value of $185,000.00.
• On Wednesday, February 5th, Aleksandar Milovanovic bought 20,000 shares of Golden Matrix Group stock. The shares were bought at an average cost of $1.85 per share, for a total transaction of $37,000.00.
• On Monday, February 3rd, Aleksandar Milovanovic purchased 50,000 shares of Golden Matrix Group stock. The stock was bought at an average cost of $1.80 per share, for a total transaction of $90,000.00.

Golden Matrix Group Price Performance

NASDAQ GMGI opened at $2.10 on Friday. The firm’s 50 day moving average price is $2.00 and its two-hundred day moving average price is $2.20. The company has a current ratio of 0.82, a quick ratio of 0.75 and a debt-to-equity ratio of 0.18. Golden Matrix Group, Inc. has a twelve month low of $1.70 and a twelve month high of $6.27.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GMGI. Rhumbline Advisers lifted its stake in Golden Matrix Group by 390.5% in the 4th quarter. Rhumbline Advisers now owns 106,449 shares of the company’s stock worth $211,000 after acquiring an additional 84,749 shares in the last quarter. Geode Capital Management LLC increased its stake in Golden Matrix Group by 14.4% in the 4th quarter. Geode Capital Management LLC now owns 623,498 shares of the company’s stock valued at $1,235,000 after buying an additional 78,427 shares during the period. Squarepoint Ops LLC acquired a new position in Golden Matrix Group in the 4th quarter valued at approximately $84,000. JPMorgan Chase & Co. lifted its position in Golden Matrix Group by 460.5% in the 4th quarter. JPMorgan Chase & Co. now owns 50,819 shares of the company’s stock worth $101,000 after buying an additional 41,752 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of Golden Matrix Group by 332.6% during the 3rd quarter. Barclays PLC now owns 29,160 shares of the company’s stock valued at $67,000 after buying an additional 22,420 shares during the period. Hedge funds and other institutional investors own 2.74% of the company’s stock.

Analysts Set New Price Targets

Separately, Maxim Group started coverage on shares of Golden Matrix Group in a report on Friday, February 21st. They issued a “buy” rating and a $4.00 target price for the company.

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.