Maxim Group Initiates Coverage on Golden Matrix Group (NASDAQ:GMGI)

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

Golden Matrix Group Trading Up 0.5 %

NASDAQ:GMGI opened at $2.15 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.82 and a quick ratio of 0.75. The stock 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 52-week low of $1.70 and a 52-week high of $6.27.

Insider Buying and Selling

In other news, insider Aleksandar Milovanovic bought 100,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were bought at an average price of $1.86 per share, for a total transaction of $186,000.00. Following the purchase, the insider now owns 78,514,616 shares in the company, valued at $146,037,185.76. This represents a 0.13 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In the last ninety days, insiders bought 270,000 shares of company stock valued at $498,000. 23.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Golden Matrix Group

Large investors have recently made changes to their positions in the business. SG Americas Securities LLC bought a new stake in Golden Matrix Group during the 4th quarter valued at approximately $28,000. Kera Capital Partners Inc. purchased a new stake in Golden Matrix Group during the 4th quarter valued at approximately $40,000. Virtu Financial LLC raised its position in shares of Golden Matrix Group by 56.0% during the third quarter. Virtu Financial LLC now owns 23,431 shares of the company’s stock valued at $55,000 after buying an additional 8,408 shares during the last quarter. Barclays PLC lifted 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 worth $67,000 after buying an additional 22,420 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position 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 worth $80,000 after acquiring an additional 8,061 shares during the last quarter. 2.74% of the stock is currently owned by hedge funds and other institutional investors.

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.