Sandhill Capital Partners LLC Makes New Investment in Golden Matrix Group, Inc. $GMGI

Sandhill Capital Partners LLC purchased a new stake in shares of Golden Matrix Group, Inc. (NASDAQ:GMGI) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 173,006 shares of the company’s stock, valued at approximately $195,000.

Several other large investors have also made changes to their positions in GMGI. Marex Group plc purchased a new stake in shares of Golden Matrix Group during the second quarter worth about $26,000. Marshall Wace LLP bought a new position in Golden Matrix Group in the 2nd quarter worth approximately $57,000. Finally, Topline Capital Management LLC purchased a new stake in Golden Matrix Group during the 2nd quarter valued at approximately $90,000. 2.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Golden Matrix Group

In other news, CEO Anthony Brian Goodman sold 4,166 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $9.60, for a total transaction of $39,993.60. Following the completion of the transaction, the chief executive officer directly owned 605,873 shares in the company, valued at approximately $5,816,380.80. This represents a 0.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 24.00% of the company’s stock.

Golden Matrix Group Stock Performance

NASDAQ GMGI opened at $9.63 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.61 and a quick ratio of 0.52. Golden Matrix Group, Inc. has a 1-year low of $0.48 and a 1-year high of $2.21. The business has a 50 day simple moving average of $7.82 and a two-hundred day simple moving average of $10.32. The stock has a market capitalization of $1.36 billion, a PE ratio of -192.60 and a beta of 0.34.

Analyst Ratings Changes

A number of equities analysts recently weighed in on GMGI shares. Weiss Ratings restated a “sell (d)” rating on shares of Golden Matrix Group in a research report on Friday, January 9th. Loop Capital set a $21.60 price target on shares of Golden Matrix Group in a research note on Tuesday, December 16th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell” and a consensus target price of $21.60.

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.