Golden Matrix Group, Inc. (NASDAQ:GMGI) Experiences Notable Increase in Short Interest for December

Golden Matrix Group, Inc. (NASDAQ:GMGI - Get Free Report) saw a considerable rise in short interest during the month of December. As of December 31st, the total short interest reached 1,380,000 shares, marking a 7.0% increase from the 1,290,000 shares reported on December 15th. Currently, approximately 7.2% of the company’s shares are being sold short. Based on an average trading volume of 101,400 shares, the days-to-cover ratio stands at an estimated 13.6 days.

Golden Matrix Group Stock Performance

On a recent trading day, shares of NASDAQ GMGI dipped by 6.8%, pricing at $2.04. A total of 100,567 shares were traded during midday, surpassing the average volume of 99,066 shares. The company maintains a debt-to-equity ratio of 0.18, along with a quick ratio of 0.75 and a current ratio of 0.82. Over the past 12 months, the stock has seen a low of $1.86 and a high of $6.27. The 50-day moving average stands at $2.23, while the 200-day moving average is $2.33.

Recent Insider Transactions

Recent insider trading activity includes Aleksandar Milovanovic, who acquired 14,038 shares of Golden Matrix Group on November 6th at an average price of $2.69 per share, bringing the total transaction value to $37,762.22. Following this acquisition, Milovanovic's holdings now total 77,502,008 shares, valued at approximately $208,480,401.52, representing a marginal increase of 0.02% in position. This transaction was reported in a filing with the SEC, which is publicly accessible. In the past quarter, insiders have purchased a total of 49,596 shares worth $121,380, with corporate insiders owning 23.20% of the company's stock.

Institutional Investor Activity

Institutional investors and hedge funds have made adjustments to their positions in Golden Matrix Group recently. Geode Capital Management LLC increased its stake by 6.3% in the third quarter, now holding 545,071 shares valued at $1,270,000 after adding 32,182 shares during the period. Additionally, Renaissance Technologies LLC saw a substantial increase of 675.9% in its holdings during the second quarter, now owning 131,900 shares worth $326,000, following a purchase of 114,900 shares. Other institutional investments include a new stake acquired by Bank of New York Mellon Corp valued at about $120,000 and another from Marshall Wace LLP around $91,000. Barclays PLC also expanded its position by 332.6% during the third quarter, currently owning 29,160 shares worth $67,000. Overall, institutional investors hold approximately 2.74% of the company’s stock.

Overview of Golden Matrix Group

Golden Matrix Group, Inc. specializes in providing enterprise software-as-a-service solutions for online casinos and sports betting operators. The company develops and manages online gaming intellectual property while building gaming platforms mainly for clients in the Asia Pacific region. Their platform enables customers to operate online casinos, sportsbooks, lotteries, and live games, offering a diverse portfolio of licensed gaming content.

Concluding Notes

The recent surge in short interest, insider buying, and shifts in institutional ownership highlight an evolving landscape for Golden Matrix Group. Investors may want to consider these factors while evaluating potential investment opportunities.

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