Short Interest in Golden Matrix Group, Inc. (NASDAQ:GMGI) Declines By 5.8%

Golden Matrix Group, Inc. (NASDAQ:GMGI) was the recipient of a significant decrease in short interest during the month of November. As of November 30th, there was short interest totalling 894,800 shares, a decrease of 5.8% from the November 15th total of 949,400 shares. Currently, 6.6% of the company’s stock are sold short. Based on an average daily trading volume, of 80,200 shares, the days-to-cover ratio is currently 11.2 days.

Insider Buying and Selling at Golden Matrix Group

In related news, insider Aleksandar Milovanovic purchased 14,038 shares of the stock in a transaction on Wednesday, November 6th. The shares were bought at an average price of $2.69 per share, for a total transaction of $37,762.22. Following the completion of the acquisition, the insider now directly owns 77,502,008 shares in the company, valued at approximately $208,480,401.52. This trade represents a 0.02 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have purchased a total of 49,596 shares of company stock worth $121,380 over the last three months. Corporate insiders own 23.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC grew its position in shares of Golden Matrix Group by 6.3% in the third quarter. Geode Capital Management LLC now owns 545,071 shares of the company’s stock valued at $1,270,000 after purchasing an additional 32,182 shares during the last quarter. Renaissance Technologies LLC boosted its stake in 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 purchasing an additional 114,900 shares during the period. Bank of New York Mellon Corp acquired a new stake in Golden Matrix Group in the 2nd quarter valued at approximately $120,000. Marshall Wace LLP bought a new position in Golden Matrix Group in the 2nd quarter worth approximately $91,000. Finally, Barclays PLC lifted its holdings in shares of Golden Matrix Group by 332.6% during the third quarter. Barclays PLC now owns 29,160 shares of the company’s stock worth $67,000 after buying an additional 22,420 shares during the last quarter. Institutional investors and hedge funds own 2.74% of the company’s stock.

Golden Matrix Group Price Performance

NASDAQ GMGI opened at $1.99 on Wednesday. Golden Matrix Group has a 1 year low of $1.93 and a 1 year high of $6.27. The company has a fifty day simple moving average of $2.39 and a 200 day simple moving average of $2.50. The company has a quick ratio of 0.75, a current ratio of 0.82 and a debt-to-equity ratio of 0.18.

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.