Topline Capital Management LLC Purchases 570,694 Shares of Golden Matrix Group, Inc. $GMGI

Topline Capital Management LLC lifted its position in shares of Golden Matrix Group, Inc. (NASDAQ:GMGI) by 1,072.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 623,909 shares of the company’s stock after acquiring an additional 570,694 shares during the quarter. Topline Capital Management LLC owned approximately 0.44% of Golden Matrix Group worth $705,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Marshall Wace LLP purchased a new stake in Golden Matrix Group during the second quarter valued at about $57,000. Marex Group plc purchased a new stake in shares of Golden Matrix Group during the 2nd quarter valued at approximately $26,000. Sandhill Capital Partners LLC bought a new position in Golden Matrix Group in the 3rd quarter worth approximately $195,000. Finally, Squarepoint Ops LLC grew its stake in Golden Matrix Group by 115.2% in the 3rd quarter. Squarepoint Ops LLC now owns 148,302 shares of the company’s stock valued at $168,000 after buying an additional 79,382 shares in the last quarter. 2.74% of the stock is currently owned by institutional investors.

Insider Activity at Golden Matrix Group

In other news, CEO Anthony Brian Goodman sold 4,166 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $9.60, for a total value of $39,993.60. Following the transaction, the chief executive officer owned 605,873 shares of the company’s stock, valued at approximately $5,816,380.80. This represents a 0.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 24.00% of the stock is owned by company insiders.

Golden Matrix Group Stock Performance

NASDAQ GMGI opened at $9.20 on Friday. Golden Matrix Group, Inc. has a 1 year low of $0.48 and a 1 year high of $2.21. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.61 and a quick ratio of 0.52. The stock has a market capitalization of $1.30 billion, a PE ratio of -184.00 and a beta of 0.34. The company’s 50 day simple moving average is $7.80 and its two-hundred day simple moving average is $10.16.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GMGI. Weiss Ratings restated a “sell (d)” rating on shares of Golden Matrix Group in a research report on Friday, January 9th. Loop Capital set a $21.60 target price on Golden Matrix Group in a research note on Tuesday, December 16th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell” and a consensus price target of $21.60.

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.