Golden Matrix Group (NASDAQ:GMGI) Trading 1.7% Higher - Time to Buy?

Key Points

• Golden Matrix Group (NASDAQ:GMGI) shares increased by 1.7% to $1.19, though trading volume declined by 60% compared to its average session.
• The company reported a quarterly loss with an EPS of ($0.03) and a negative net margin, while also suggesting a projected EPS of 0.03 for the current year.
• Recent insider activities included CFO Richard Christensen buying 25,000 shares, increasing his position by 50%, while CEO Anthony Brian Goodman sold 50,000 shares, reducing his ownership slightly.

Golden Matrix Group, Inc. (NASDAQ:GMGI - Get Free Report)'s stock price traded up 1.7% during trading on Monday . The stock traded as high as $1.20 and last traded at $1.19. 141,460 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 350,665 shares. The stock had previously closed at $1.17.

Golden Matrix Group Stock Performance

The stock has a market capitalization of $166.99 million, a price-to-earnings ratio of -14.88 and a beta of 0.32. The company's fifty day simple moving average is $1.27 and its 200 day simple moving average is $1.63. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 0.09.

Golden Matrix Group (NASDAQ:GMGI - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.03) EPS for the quarter. Golden Matrix Group had a negative net margin of 5.41% and a negative return on equity of 7.50%. On average, equities research analysts expect that Golden Matrix Group, Inc. will post 0.03 earnings per share for the current year.

Insider Transactions at Golden Matrix Group

In other Golden Matrix Group news, CFO Richard Christensen bought 25,000 shares of Golden Matrix Group stock in a transaction dated Tuesday, August 26th. The stock was bought at an average price of $1.30 per share, with a total value of $32,500.00. Following the completion of the transaction, the chief financial officer owned 75,000 shares in the company, valued at $97,500. The trade was a 50.00% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Anthony Brian Goodman sold 50,000 shares of the business's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $1.05, for a total transaction of $52,500.00. Following the completion of the sale, the chief executive officer directly owned 8,404,079 shares of the company's stock, valued at approximately $8,824,282.95. The trade was a 0.59% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders bought 80,000 shares of company stock valued at $101,800 and sold 250,000 shares valued at $387,500. Insiders own 23.20% of the company's stock.

Institutional Investors Weigh In On Golden Matrix Group

A number of institutional investors have recently modified their holdings of GMGI. Northern Trust Corp boosted its position in shares of Golden Matrix Group by 6.7% in the fourth quarter. Northern Trust Corp now owns 169,308 shares of the company's stock valued at $335,000 after acquiring an additional 10,690 shares during the period. Squarepoint Ops LLC bought a new stake in Golden Matrix Group during the fourth quarter worth about $84,000. Nuveen LLC bought a new stake in Golden Matrix Group during the first quarter worth about $52,000. Marshall Wace LLP bought a new stake in Golden Matrix Group during the second quarter worth about $57,000. Finally, Topline Capital Management LLC bought a new stake in Golden Matrix Group during the second quarter worth about $90,000. Institutional investors own 2.74% of the company's stock.

Golden Matrix Group Company Profile

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.

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