Short Interest in Golden Matrix Group, Inc. (NASDAQ:GMGI) Declines By 6.4%

Golden Matrix Group, Inc. (NASDAQ:GMGI) saw a significant decrease in short interest in August. As of August 15th, there was short interest totalling 1,030,000 shares, a decrease of 6.4% from the July 31st total of 1,100,000 shares. Based on an average daily volume of 192,600 shares, the short-interest ratio is currently 5.3 days. Approximately 5.3% of the company’s stock are short sold.

Golden Matrix Group Stock Performance

Shares of GMGI stock opened at $2.44 on Wednesday. The company has a market capitalization of $89.34 million, a price-to-earnings ratio of -122.00 and a beta of 0.48. Golden Matrix Group has a 1-year low of $2.01 and a 1-year high of $6.27. The company has a current ratio of 0.95, a quick ratio of 0.88 and a debt-to-equity ratio of 0.25. The stock’s fifty day simple moving average is $2.41 and its 200-day simple moving average is $3.18.

Institutional Investors Weigh In On Golden Matrix Group

A number of institutional investors have recently bought and sold shares of GMGI. XTX Topco Ltd purchased a new stake in shares of Golden Matrix Group in the second quarter worth approximately $30,000. Rhumbline Advisers acquired a new position in Golden Matrix Group in the 2nd quarter valued at approximately $43,000. Marshall Wace LLP purchased a new stake in Golden Matrix Group in the 2nd quarter worth approximately $91,000. Bank of New York Mellon Corp purchased a new stake in Golden Matrix Group in the 2nd quarter worth approximately $120,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Golden Matrix Group by 675.9% during the 2nd quarter. Renaissance Technologies LLC now owns 131,900 shares of the company’s stock valued at $326,000 after buying an additional 114,900 shares during the period. 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.