173,006 Shares in Golden Matrix Group, Inc. $GMGI Bought by Sandhill Capital Partners LLC

Sandhill Capital Partners LLC acquired a new stake in shares of Golden Matrix Group, Inc. (NASDAQ:GMGI) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 173,006 shares of the company’s stock, valued at approximately $195,000. Sandhill Capital Partners LLC owned about 0.12% of Golden Matrix Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the company. Marex Group plc purchased a new position in Golden Matrix Group in the second quarter worth about $26,000. Topline Capital Management LLC bought a new position in shares of Golden Matrix Group in the 2nd quarter worth approximately $90,000. Finally, Marshall Wace LLP purchased a new position in shares of Golden Matrix Group in the second quarter worth approximately $57,000. Institutional investors own 2.74% of the company’s stock.

Golden Matrix Group Stock Down 10.0%

NASDAQ GMGI opened at $9.63 on Monday. Golden Matrix Group, Inc. has a 52 week low of $0.48 and a 52 week high of $2.21. 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 company has a market capitalization of $1.36 billion, a P/E ratio of -192.60 and a beta of 0.34. The stock’s 50-day moving average price is $7.82 and its 200-day moving average price is $10.32.

Insider Buying and Selling

In other Golden Matrix Group news, CEO Anthony Brian Goodman sold 4,166 shares of Golden Matrix Group stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $9.60, for a total transaction of $39,993.60. Following the transaction, the chief executive officer owned 605,873 shares of the company’s stock, valued at $5,816,380.80. The trade was 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 available through the SEC website. Insiders own 24.00% of the company’s stock.

Wall Street Analysts Forecast Growth

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