Golden Matrix Group, Inc. (NASDAQ:GMGI) Sees Large Growth in Short Interest

Golden Matrix Group, Inc. (NASDAQ:GMGI) was the recipient of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 1,380,000 shares, an increase of 7.0% from the December 15th total of 1,290,000 shares. Based on an average daily trading volume, of 101,400 shares, the days-to-cover ratio is presently 13.6 days. Currently, 7.2% of the shares of the stock are short sold.

Golden Matrix Group Price Performance

Shares of GMGI stock traded down $0.15 on Friday, hitting $2.04. 100,567 shares of the company’s stock were exchanged, compared to its average volume of 99,066. The company has a 50 day moving average of $2.23 and a 200 day moving average of $2.33. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.82 and a quick ratio of 0.75. Golden Matrix Group has a 12 month low of $1.86 and a 12 month high of $6.27.

Insider Buying and Selling at Golden Matrix Group

In other Golden Matrix Group news, insider Aleksandar Milovanovic bought 14,038 shares of Golden Matrix Group stock in a transaction on Wednesday, November 6th. The shares were purchased at an average price of $2.69 per share, with a total value of $37,762.22. Following the acquisition, the insider now owns 77,502,008 shares in the company, valued at $208,480,401.52. This trade represents a 0.02 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have bought a total of 49,596 shares of company stock valued at $121,380 in the last ninety days. 23.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Golden Matrix Group

A number of hedge funds have recently made changes to their positions in GMGI. Virtu Financial LLC lifted its stake in Golden Matrix Group by 56.0% in the 3rd quarter. Virtu Financial LLC now owns 23,431 shares of the company’s stock valued at $55,000 after purchasing an additional 8,408 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Golden Matrix Group during the second quarter worth $30,000. SG Americas Securities LLC bought a new position in shares of Golden Matrix Group in the 4th quarter valued at $28,000. Rhumbline Advisers acquired a new stake in shares of Golden Matrix Group during the 2nd quarter valued at $43,000. Finally, Kera Capital Partners Inc. bought a new stake in Golden Matrix Group during the 4th quarter worth $40,000. 2.74% of the stock is currently owned by institutional investors and hedge funds.

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.