Golden Matrix Group Stock Scheduled to Reverse Split on Tuesday, March 3rd (NASDAQ:GMGI)

Golden Matrix Group, Inc. (NASDAQ:GMGI) shares are going to reverse split on the morning of Tuesday, March 3rd. The 1-12 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Monday, March 2nd.

Golden Matrix Group Stock Up 13.2%

Shares of NASDAQ:GMGI traded up $0.07 during trading on Friday, reaching $0.58. The stock had a trading volume of 401,025 shares, compared to its average volume of 239,111. The firm’s 50-day simple moving average is $0.67 and its 200 day simple moving average is $0.89. The company has a current ratio of 0.61, a quick ratio of 0.52 and a debt-to-equity ratio of 0.07. Golden Matrix Group has a one year low of $0.48 and a one year high of $2.21. The company has a market capitalization of $81.92 million, a P/E ratio of -11.60 and a beta of 0.30.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GMGI. Loop Capital set a $1.80 target price on Golden Matrix Group in a research note on Tuesday, December 16th. Weiss Ratings restated a “sell (d)” rating on shares of Golden Matrix Group in a research note on Friday, January 9th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Golden Matrix Group presently has an average rating of “Sell” and an average price target of $1.80.

Insider Buying and Selling

In other news, CEO Anthony Brian Goodman sold 50,000 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $0.80, for a total value of $40,000.00. Following the sale, the chief executive officer directly owned 7,270,483 shares of the company’s stock, valued at $5,816,386.40. This represents a 0.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders have sold 150,000 shares of company stock worth $118,000. Insiders own 24.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in GMGI. Marex Group plc purchased a new stake in shares of Golden Matrix Group during the second quarter worth about $26,000. Virtu Financial LLC acquired a new stake in Golden Matrix Group in the 3rd quarter worth about $33,000. Continuum Advisory LLC increased its stake in Golden Matrix Group by 375.0% during the 4th quarter. Continuum Advisory LLC now owns 57,000 shares of the company’s stock worth $46,000 after buying an additional 45,000 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Golden Matrix Group during the second quarter valued at approximately $57,000. Finally, Deutsche Bank AG lifted its position in shares of Golden Matrix Group by 224.4% in the fourth quarter. Deutsche Bank AG now owns 94,695 shares of the company’s stock valued at $76,000 after acquiring an additional 65,501 shares in the last quarter. 2.74% of the stock is owned by institutional investors and hedge funds.

Golden Matrix Group Company Profile

Golden Matrix Group Inc is a technology-driven gaming entertainment company that develops and delivers digital real-money gaming solutions. Incorporated in Nevada with principal operating offices in Malta, the company focuses on providing a comprehensive online gaming platform to licensed operators. Golden Matrix Group’s core mission is to enable its clients to launch and scale casino, sports betting, lottery and other interactive gaming offerings—backed by proprietary technology and a portfolio of third-party content integrations.

The company’s flagship product, the KaFe Rocks platform, combines player account management, risk and fraud monitoring, payment processing, and back-office reporting into a single, modular system.