Golden Matrix Group (NASDAQ:GMGI) CEO Sells $37,000.00 in Stock

Golden Matrix Group, Inc. (NASDAQ:GMGI) CEO Anthony Brian Goodman sold 50,000 shares of the stock in a transaction on Monday, December 8th. The shares were sold at an average price of $0.74, for a total value of $37,000.00. Following the completion of the sale, the chief executive officer directly owned 7,320,483 shares of the company’s stock, valued at $5,417,157.42. The trade was a 0.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Anthony Brian Goodman also recently made the following trade(s):

• On Monday, December 15th, Anthony Brian Goodman sold 50,000 shares of Golden Matrix Group stock. The stock was sold at an average price of $0.80, for a total transaction of $40,000.00.
• On Monday, December 1st, Anthony Brian Goodman sold 50,000 shares of Golden Matrix Group stock. The stock was sold at an average price of $0.82, for a total transaction of $41,000.00.
• On Monday, November 24th, Anthony Brian Goodman sold 50,000 shares of Golden Matrix Group stock. The shares were sold at an average price of $0.80, for a total transaction of $40,000.00.

Golden Matrix Group Stock Performance

Shares of Golden Matrix Group stock traded up $0.03 during mid-day trading on Tuesday, hitting $0.82. 116,752 shares of the stock were exchanged, compared to its average volume of 231,086. Golden Matrix Group, Inc. has a 12 month low of $0.70 and a 12 month high of $2.60. The company has a 50-day simple moving average of $0.91 and a 200 day simple moving average of $1.25. The company has a market capitalization of $116.38 million, a P/E ratio of -16.48 and a beta of 0.32. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.52 and a current ratio of 0.61.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Loop Capital set a $1.80 price target on Golden Matrix Group in a report on Tuesday. UBS Group set a $1.80 target price on Golden Matrix Group in a research report on Tuesday, October 14th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Golden Matrix Group in a report on Tuesday, October 14th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $2.53.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Marex Group plc purchased a new position in Golden Matrix Group during the 2nd quarter valued at about $26,000. Nuveen LLC purchased a new stake in shares of Golden Matrix Group in the first quarter worth about $52,000. Susquehanna International Group LLP boosted its position in shares of Golden Matrix Group by 33.7% in the third quarter. Susquehanna International Group LLP now owns 114,409 shares of the company’s stock valued at $129,000 after acquiring an additional 28,819 shares during the period. Virtu Financial LLC purchased a new position in Golden Matrix Group during the third quarter valued at approximately $33,000. Finally, Marshall Wace LLP bought a new stake in Golden Matrix Group during the 2nd quarter worth approximately $57,000. Institutional investors 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.