Northern Trust Corp Acquires 10,690 Shares of Golden Matrix Group, Inc. (NASDAQ:GMGI)

Northern Trust Corp raised its holdings in Golden Matrix Group, Inc. (NASDAQ:GMGI) by 6.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 169,308 shares of the company’s stock after buying an additional 10,690 shares during the period. Northern Trust Corp owned about 0.13% of Golden Matrix Group worth $335,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in Golden Matrix Group in the fourth quarter valued at approximately $28,000. Bank of New York Mellon Corp raised its stake in Golden Matrix Group by 24.7% in the fourth quarter. Bank of New York Mellon Corp now owns 40,632 shares of the company’s stock valued at $80,000 after buying an additional 8,061 shares during the period. JPMorgan Chase & Co. raised its stake in Golden Matrix Group by 460.5% in the fourth quarter. JPMorgan Chase & Co. now owns 50,819 shares of the company’s stock valued at $101,000 after buying an additional 41,752 shares during the period. Rhumbline Advisers raised its stake in Golden Matrix Group by 390.5% in the fourth 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. Finally, Geode Capital Management LLC raised its stake in Golden Matrix Group by 14.4% in the fourth 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. Institutional investors own 2.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Maxim Group began coverage on Golden Matrix Group in a research note on Friday, February 21st. They issued a “buy” rating and a $4.00 price objective on the stock.

Golden Matrix Group Price Performance

Shares of NASDAQ GMGI opened at $1.87 on Monday. The firm has a market cap of $258.06 million, a P/E ratio of -37.30 and a beta of 0.41. 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 1-year low of $1.33 and a 1-year high of $6.19. The business’s 50 day moving average is $1.86 and its 200-day moving average is $2.01.

Insider Transactions at Golden Matrix Group

In other news, insider Aleksandar Milovanovic bought 146,080 shares of the stock in a transaction dated Monday, April 14th. The shares were bought at an average price of $1.94 per share, for a total transaction of $283,395.20. Following the completion of the purchase, the insider now owns 84,462,583 shares in the company, valued at approximately $163,857,411.02. This trade represents a 0.17% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have bought 508,394 shares of company stock worth $1,006,418. Company insiders own 23.20% 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.