Bank of New York Mellon Corp Boosts Holdings in Golden Matrix Group, Inc. (NASDAQ:GMGI)

Bank of New York Mellon Corp raised its stake in Golden Matrix Group, Inc. (NASDAQ:GMGI) by 24.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,632 shares of the company’s stock after purchasing an additional 8,061 shares during the quarter. Bank of New York Mellon Corp’s holdings in Golden Matrix Group were worth $80,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in Golden Matrix Group during the 4th quarter worth $28,000. Kera Capital Partners Inc. purchased a new stake in shares of Golden Matrix Group in the fourth quarter worth about $40,000. Virtu Financial LLC grew its stake in shares of Golden Matrix Group by 56.0% in 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 in the last quarter. Barclays PLC raised its holdings 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. Finally, Rhumbline Advisers raised its holdings in shares of Golden Matrix Group by 390.5% during the 4th quarter. Rhumbline Advisers now owns 106,449 shares of the company’s stock valued at $211,000 after buying an additional 84,749 shares during the period. Institutional investors and hedge funds own 2.74% of the company’s stock.

Golden Matrix Group Trading Down 2.9 %

Shares of GMGI opened at $2.04 on Monday. Golden Matrix Group, Inc. has a 1 year low of $1.70 and a 1 year high of $6.27. 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 firm has a fifty day moving average of $2.00 and a 200-day moving average of $2.19.

Insider Activity

In related news, insider Aleksandar Milovanovic bought 50,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were acquired at an average cost of $1.80 per share, for a total transaction of $90,000.00. Following the acquisition, the insider now directly owns 77,834,303 shares of the company’s stock, valued at $140,101,745.40. The trade was a 0.06 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last ninety days, insiders have acquired 523,726 shares of company stock valued at $1,016,690. Company insiders own 23.20% of the company’s stock.

Wall Street Analyst Weigh In

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

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.