Golden Matrix Group (NASDAQ:GMGI) Stock Price Up 5.8% – Should You Buy?

Golden Matrix Group, Inc. (NASDAQ:GMGI)’s share price shot up 5.8% during mid-day trading on Friday . The company traded as high as $0.7530 and last traded at $0.7287. 409,245 shares were traded during mid-day trading, an increase of 80% from the average session volume of 227,832 shares. The stock had previously closed at $0.6885.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on GMGI shares. Weiss Ratings reissued a “sell (d)” rating on shares of Golden Matrix Group in a report on Friday, January 9th. Loop Capital set a $1.80 target price on shares of Golden Matrix Group in a research report on Tuesday, December 16th. Finally, UBS Group set a $1.80 price target on shares of Golden Matrix Group in a report on Tuesday, October 14th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Golden Matrix Group presently has an average rating of “Hold” and an average price target of $2.53.

Golden Matrix Group Stock Performance

The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.52 and a current ratio of 0.61. The company has a market cap of $102.92 million, a price-to-earnings ratio of -14.57 and a beta of 0.31. The firm’s 50-day moving average price is $0.75 and its 200 day moving average price is $1.03.

Insider Activity at Golden Matrix Group

In other news, CEO Anthony Brian Goodman sold 50,000 shares of the stock in a transaction on Monday, December 15th. The stock was sold at an average price of $0.80, for a total value of $40,000.00. Following the transaction, the chief executive officer owned 7,270,483 shares of the company’s stock, valued at $5,816,386.40. This represents a 0.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders have acquired 55,000 shares of company stock worth $53,100 and have sold 200,000 shares worth $158,000. Insiders own 24.00% of the company’s stock.

Institutional Investors Weigh In On Golden Matrix Group

A number of institutional investors have recently made changes to their positions in the stock. Citadel Advisors LLC boosted its holdings in Golden Matrix Group by 1,603.2% during the third quarter. Citadel Advisors LLC now owns 206,082 shares of the company’s stock worth $233,000 after buying an additional 193,982 shares during the last quarter. Susquehanna International Group LLP raised its position in shares of Golden Matrix Group by 33.7% in the 3rd quarter. Susquehanna International Group LLP now owns 114,409 shares of the company’s stock valued at $129,000 after acquiring an additional 28,819 shares during the period. Millennium Management LLC raised its position in shares of Golden Matrix Group by 68.8% in the 3rd quarter. Millennium Management LLC now owns 131,812 shares of the company’s stock valued at $149,000 after acquiring an additional 53,703 shares during the period. Virtu Financial LLC acquired a new position in Golden Matrix Group during the third quarter valued at approximately $33,000. Finally, Squarepoint Ops LLC increased its stake in Golden Matrix Group by 115.2% in the third quarter. Squarepoint Ops LLC now owns 148,302 shares of the company’s stock valued at $168,000 after purchasing an additional 79,382 shares in the last quarter. 2.74% of the stock is owned by institutional investors and hedge funds.

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.