Golden Matrix Group (NASDAQ:GMGI) Shares Down 8% – Time to Sell?

Golden Matrix Group, Inc. (NASDAQ:GMGI) shares fell 8% during trading on Monday . The company traded as low as $0.5097 and last traded at $0.51. 200,846 shares changed hands during trading, a decline of 4% from the average session volume of 209,825 shares. The stock had previously closed at $0.5546.

Analysts Set New Price Targets

GMGI has been the topic of a number of recent analyst reports. Loop Capital set a $1.80 price objective on Golden Matrix Group in a research note on Tuesday, December 16th. Weiss Ratings reiterated a “sell (d)” rating on shares of Golden Matrix Group in a report on Friday, January 9th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Golden Matrix Group has an average rating of “Sell” and a consensus price target of $1.80.

Golden Matrix Group Price Performance

The firm has a market capitalization of $72.03 million, a P/E ratio of -10.20 and a beta of 0.30. The business has a 50-day moving average of $0.70 and a 200 day moving average of $0.91. The company has a current ratio of 0.61, a quick ratio of 0.52 and a debt-to-equity ratio of 0.07.

Insider Transactions at Golden Matrix Group

In other Golden Matrix Group news, CEO Anthony Brian Goodman sold 50,000 shares of the business’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $0.80, for a total transaction of $40,000.00. Following the completion of the sale, the chief executive officer owned 7,270,483 shares in the company, valued at approximately $5,816,386.40. The trade was a 0.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have sold 150,000 shares of company stock valued at $118,000. Company insiders own 24.00% of the company’s stock.

Institutional Investors Weigh In On Golden Matrix Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Marex Group plc bought a new stake in shares of Golden Matrix Group during the 2nd quarter worth $26,000. Virtu Financial LLC purchased a new stake in Golden Matrix Group during the third quarter worth about $33,000. Marshall Wace LLP purchased a new stake in Golden Matrix Group during the second quarter worth about $57,000. Topline Capital Management LLC bought a new stake in Golden Matrix Group in the second quarter worth about $90,000. Finally, Continuum Advisory LLC boosted its stake in Golden Matrix Group by 375.0% in the fourth quarter. Continuum Advisory LLC now owns 57,000 shares of the company’s stock valued at $46,000 after acquiring an additional 45,000 shares during the last quarter. 2.74% of the stock is owned by hedge funds and other institutional investors.

Golden Matrix Group Company Profile

Golden Matrix Group Inc is a technology-driven gaming entertainment company that develops and delivers digital real-money gaming solutions. Incorporated in Nevada with principal operating offices in Malta, the company focuses on providing a comprehensive online gaming platform to licensed operators. Golden Matrix Group’s core mission is to enable its clients to launch and scale casino, sports betting, lottery and other interactive gaming offerings—backed by proprietary technology and a portfolio of third-party content integrations.

The company’s flagship product, the KaFe Rocks platform, combines player account management, risk and fraud monitoring, payment processing, and back-office reporting into a single, modular system.