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

Topline Capital Management LLC raised its holdings in Golden Matrix Group, Inc. (NASDAQ:GMGI) by 1,072.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 623,909 shares of the company’s stock after acquiring an additional 570,694 shares during the quarter. Topline Capital Management LLC’s holdings in Golden Matrix Group were worth $705,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Sandhill Capital Partners LLC purchased a new position in shares of Golden Matrix Group during the third quarter worth about $195,000. Squarepoint Ops LLC raised its stake in Golden Matrix Group by 115.2% in the third quarter. Squarepoint Ops LLC now owns 148,302 shares of the company’s stock valued at $168,000 after purchasing an additional 79,382 shares in the last quarter. Marshall Wace LLP bought a new stake in Golden Matrix Group during the second quarter valued at approximately $57,000. Finally, Marex Group plc bought a new stake in Golden Matrix Group during the second quarter valued at approximately $26,000. Institutional investors own 2.74% of the company’s stock.

Golden Matrix Group Stock Performance

NASDAQ GMGI opened at $9.20 on Friday. The company has a 50-day simple moving average of $7.80 and a two-hundred day simple moving average of $10.16. 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, Inc. has a 12-month low of $0.48 and a 12-month high of $2.21. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of -184.00 and a beta of 0.34.

Wall Street Analysts Forecast Growth

GMGI has been the topic of a number of research analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of Golden Matrix Group in a report on Friday, January 9th. Loop Capital set a $21.60 price objective on shares of Golden Matrix Group in a report on Tuesday, December 16th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell” and a consensus price target of $21.60.

Insider Activity

In other news, CEO Anthony Brian Goodman sold 4,166 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $5,816,380.80. This trade represents a 0.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 24.00% 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.