Richard Christensen Buys 30,000 Shares of Golden Matrix Group, Inc. (NASDAQ:GMGI) Stock

Key Points

• Richard Christensen, CFO of Golden Matrix Group, purchased 30,000 shares of stock at an average cost of $1.39 per share, raising his total ownership to 40,000 shares.
• The company's stock price rose 2.6% to $1.37, with a recent trading volume of 19,921 shares compared to an average of 177,676 shares.
• Golden Matrix Group reported a negative earnings per share of ($0.03) for the last quarter, reflecting financial challenges with a negative net margin of 5.41%.

Golden Matrix Group, Inc. (NASDAQ:GMGI - Get Free Report) CFO Richard Christensen bought 30,000 shares of the company's stock in a transaction dated Monday, August 11th. The stock was bought at an average price of $1.39 per share, for a total transaction of $41,700.00. Following the transaction, the chief financial officer owned 40,000 shares of the company's stock, valued at approximately $55,600. This trade represents a 300.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Richard Christensen also recently made the following trade(s):

• On Tuesday, August 12th, Richard Christensen bought 5,000 shares of Golden Matrix Group stock. The stock was bought at an average price of $1.36 per share, for a total transaction of $6,800.00.
• On Tuesday, May 27th, Richard Christensen purchased 10,000 shares of Golden Matrix Group stock. The shares were acquired at an average price of $1.36 per share, for a total transaction of $13,600.00.

Golden Matrix Group Price Performance

GMGI remained flat at $1.34 on Thursday. 228,940 shares of the company were exchanged, compared to its average volume of 192,353. The firm has a market capitalization of $186.90 million, a PE ratio of -16.75 and a beta of 0.34. Golden Matrix Group, Inc. has a 52-week low of $1.28 and a 52-week high of $3.06. The business has a fifty day moving average price of $1.64 and a two-hundred day moving average price of $1.82. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 0.09.

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

Hedge Funds Weigh In On Golden Matrix Group

A number of institutional investors have recently bought and sold shares of the company. Marshall Wace LLP purchased a new position in Golden Matrix Group during the second quarter worth about $57,000. Nuveen LLC purchased a new position in Golden Matrix Group during the first quarter worth about $52,000. Squarepoint Ops LLC purchased a new position in Golden Matrix Group during the fourth quarter worth about $84,000. Northern Trust Corp raised its stake in Golden Matrix Group by 6.7% during the fourth quarter. Northern Trust Corp now owns 169,308 shares of the company's stock worth $335,000 after purchasing an additional 10,690 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Golden Matrix Group by 14.4% during the 4th quarter. Geode Capital Management LLC now owns 623,498 shares of the company's stock worth $1,235,000 after purchasing an additional 78,427 shares during the period. 2.74% of the stock is owned by hedge funds and other institutional investors.

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.