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

Golden Matrix Group, Inc. (NASDAQ:GMGI) shares are set 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 Price Performance

NASDAQ GMGI traded up $0.07 during trading hours on Friday, reaching $0.58. 401,025 shares of the company’s stock traded hands, compared to its average volume of 218,501. Golden Matrix Group has a 52-week low of $0.48 and a 52-week high of $2.21. The company has a current ratio of 0.61, a quick ratio of 0.52 and a debt-to-equity ratio of 0.07. The firm has a 50-day simple moving average of $0.67 and a 200 day simple moving average of $0.89.

Analyst Ratings Changes

GMGI has been the topic of several recent research reports. Loop Capital set a $1.80 price target on Golden Matrix Group in a research note on Tuesday, December 16th. Weiss Ratings reissued a “sell (d)” rating on shares of Golden Matrix Group in a research note on Friday, January 9th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell” and a consensus target price of $1.80.

Insider Buying and Selling at Golden Matrix Group

In related news, CEO Anthony Brian Goodman sold 50,000 shares of the stock in a transaction on Monday, December 15th. The stock was sold at an average price of $0.80, for a total transaction 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 trade represents a 0.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 150,000 shares of company stock valued at $118,000 in the last three months. 24.00% of the stock is owned by insiders.

Institutional Trading of Golden Matrix Group

Several large investors have recently modified their holdings of the company. Whetstone Capital Advisors LLC purchased a new stake in Golden Matrix Group during the fourth quarter valued at $331,000. State Street Corp grew its stake in shares of Golden Matrix Group by 25.6% during the 4th quarter. State Street Corp now owns 99,899 shares of the company’s stock valued at $80,000 after purchasing an additional 20,343 shares during the period. Deutsche Bank AG increased its position in shares of Golden Matrix Group by 224.4% during the 4th quarter. Deutsche Bank AG now owns 94,695 shares of the company’s stock valued at $76,000 after purchasing an additional 65,501 shares during the last quarter. Continuum Advisory LLC lifted its stake in shares of Golden Matrix Group by 375.0% in the 4th quarter. Continuum Advisory LLC now owns 57,000 shares of the company’s stock worth $46,000 after purchasing an additional 45,000 shares during the period. Finally, Susquehanna International Group LLP boosted its holdings in shares of Golden Matrix Group by 33.7% in the third quarter. Susquehanna International Group LLP now owns 114,409 shares of the company’s stock worth $129,000 after buying an additional 28,819 shares during the last quarter. Institutional investors own 2.74% of the company’s stock.

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.