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

Shares of Golden Matrix Group, Inc. (NASDAQ:GMGI) are going to reverse split on 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 Price Performance

Shares of Golden Matrix Group stock traded up $0.07 during trading hours on Friday, reaching $0.58. 401,025 shares of the company’s stock were exchanged, compared to its average volume of 239,111. The business has a fifty day moving average of $0.67 and a two-hundred day moving average of $0.89. The company has a market capitalization of $81.92 million, a P/E ratio of -11.60 and a beta of 0.30. The company has a quick ratio of 0.52, a current ratio of 0.61 and a debt-to-equity ratio of 0.07. Golden Matrix Group has a 1 year low of $0.48 and a 1 year high of $2.21.

Analyst Upgrades and Downgrades

A number of analysts have commented on GMGI shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Golden Matrix Group in a report on Friday, January 9th. Loop Capital set a $1.80 price target on Golden Matrix Group in a research report on Tuesday, December 16th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell” and a consensus target price of $1.80.

Insider Activity at Golden Matrix Group

In other news, CEO Anthony Brian Goodman sold 50,000 shares of Golden Matrix Group stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $0.80, for a total transaction of $40,000.00. Following the sale, the chief executive officer owned 7,270,483 shares of the company’s stock, valued at approximately $5,816,386.40. The trade was a 0.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders have sold 150,000 shares of company stock worth $118,000. 24.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Golden Matrix Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GMGI. Marex Group plc acquired a new position in shares of Golden Matrix Group in the 2nd quarter valued at $26,000. Virtu Financial LLC purchased a new stake in Golden Matrix Group in the 3rd quarter valued at about $33,000. Marshall Wace LLP purchased a new stake in Golden Matrix Group in the 2nd quarter valued at about $57,000. Topline Capital Management LLC acquired a new position in Golden Matrix Group in the second quarter valued at about $90,000. Finally, Continuum Advisory LLC boosted its stake in Golden Matrix Group by 375.0% during the fourth quarter. Continuum Advisory LLC now owns 57,000 shares of the company’s stock worth $46,000 after buying an additional 45,000 shares during the period. Hedge funds and other institutional investors own 2.74% of the company’s stock.

About Golden Matrix Group

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.