Golden Matrix Group, Inc. (NASDAQ:GMGI) Sees Large Growth in Short Interest

Golden Matrix Group, Inc. (NASDAQ:GMGI) was the recipient of a large growth in short interest in December. As of December 31st, there was short interest totalling 1,380,000 shares, a growth of 7.0% from the December 15th total of 1,290,000 shares. Based on an average trading volume of 101,400 shares, the short-interest ratio is presently 13.6 days. Currently, 7.2% of the shares of the stock are short sold.

Insider Buying and Selling at Golden Matrix Group

In other news, insider Aleksandar Milovanovic acquired 14,038 shares of the stock in a transaction on Wednesday, November 6th. The stock was acquired at an average cost of $2.69 per share, for a total transaction of $37,762.22. Following the completion of the transaction, the insider now directly owns 77,502,008 shares in the company, valued at approximately $208,480,401.52. This trade represents a 0.02 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders purchased 49,596 shares of company stock valued at $121,380 in the last three months. Corporate insiders own 23.20% of the company’s stock.

Institutional Trading of Golden Matrix Group

Several hedge funds have recently bought and sold shares of GMGI. Bank of New York Mellon Corp purchased a new stake in Golden Matrix Group in the 2nd quarter valued at about $120,000. Rhumbline Advisers purchased a new stake in shares of Golden Matrix Group during the second quarter valued at approximately $43,000. Renaissance Technologies LLC lifted its holdings in Golden Matrix Group by 675.9% during the second quarter. Renaissance Technologies LLC now owns 131,900 shares of the company’s stock worth $326,000 after acquiring an additional 114,900 shares during the period. XTX Topco Ltd purchased a new position in Golden Matrix Group in the second quarter worth $30,000. Finally, Marshall Wace LLP bought a new position in Golden Matrix Group in the 2nd quarter valued at $91,000. Institutional investors and hedge funds own 2.74% of the company’s stock.

Golden Matrix Group Stock Down 6.8 %

GMGI stock traded down $0.15 during mid-day trading on Monday, reaching $2.04. The company’s stock had a trading volume of 100,567 shares, compared to its average volume of 99,066. The business’s 50 day moving average price is $2.23 and its 200 day moving average price is $2.33. 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 has a 12 month low of $1.86 and a 12 month high of $6.27.

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.