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

Shares of Golden Matrix Group, Inc. (NASDAQ:GMGI) 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 closing bell on Monday, March 2nd.

Golden Matrix Group Trading Up 13.2%

GMGI traded up $0.07 during midday trading on Friday, hitting $0.58. 401,025 shares of the company were exchanged, compared to its average volume of 218,501. The company has a quick ratio of 0.52, a current ratio of 0.61 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $81.92 million, a P/E ratio of -11.60 and a beta of 0.30. The firm’s 50 day moving average price is $0.67 and its 200-day moving average price is $0.89. Golden Matrix Group has a 1-year low of $0.48 and a 1-year high of $2.21.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Golden Matrix Group in a research report on Friday, January 9th. Loop Capital set a $1.80 price objective on shares of Golden Matrix Group in a research report on Tuesday, December 16th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell” and a consensus target price of $1.80.

Insider Activity

In related news, CEO Anthony Brian Goodman sold 50,000 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $0.80, for a total value of $40,000.00. Following the transaction, the chief executive officer directly owned 7,270,483 shares of the company’s stock, valued at approximately $5,816,386.40. This trade represents a 0.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over 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 Investors Weigh In On Golden Matrix Group

Several institutional investors have recently modified their holdings of the stock. Topline Capital Management LLC lifted its position in Golden Matrix Group by 1,072.4% in the third quarter. Topline Capital Management LLC now owns 623,909 shares of the company’s stock worth $705,000 after buying an additional 570,694 shares during the last quarter. Whetstone Capital Advisors LLC purchased a new stake in shares of Golden Matrix Group in the fourth quarter valued at $331,000. Citadel Advisors LLC lifted its holdings in shares of Golden Matrix Group by 1,603.2% in the 3rd quarter. Citadel Advisors LLC now owns 206,082 shares of the company’s stock worth $233,000 after acquiring an additional 193,982 shares during the last quarter. Sandhill Capital Partners LLC bought a new stake in shares of Golden Matrix Group during the 3rd quarter worth approximately $195,000. Finally, Squarepoint Ops LLC grew its position 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 acquiring an additional 79,382 shares during the last quarter. 2.74% of the stock is owned by institutional investors.

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.