Short Interest in Golden Matrix Group, Inc. Increases by 7% in December

Golden Matrix Group, Inc. (NASDAQ:GMGI) experienced a notable rise in short interest throughout December. By December 31st, the total short interest reached 1,380,000 shares, reflecting an increase of 7.0% from the previous total of 1,290,000 shares as of December 15th. This indicates that approximately 7.2% of the company's shares are currently sold short. Based on an average trading volume of 101,400 shares, the days-to-cover ratio stands at 13.6 days.

Current Stock Performance

On Friday, shares of NASDAQ GMGI fell by $0.15, trading at $2.04 during midday sessions. A total of 100,567 shares exchanged hands, compared to the average volume of 99,066 shares. Financial metrics of Golden Matrix Group indicate a debt-to-equity ratio of 0.18, with a quick ratio of 0.75 and a current ratio of 0.82. The stock has seen a 12-month low of $1.86 and a high of $6.27, while its 50-day moving average price is $2.23 and the 200-day moving average price is $2.33.

Insider Transactions

In recent developments, insider Aleksandar Milovanovic acquired 14,038 shares of Golden Matrix Group stock on November 6th at an average price of $2.69 per share, totaling approximately $37,762.22. Following this transaction, the insider now holds 77,502,008 shares valued at around $208,480,401.52, marking a 0.02% increase in their stake. This transaction has been officially filed with the SEC. Over the last quarter, insiders purchased 49,596 shares worth $121,380, and corporate insiders collectively own 23.20% of the company’s stock.

Institutional Investment Trends

Hedge funds and institutional investors recently adjusted their holdings in Golden Matrix Group. Geode Capital Management LLC increased its stake by 6.3% during the third quarter, now owning 545,071 shares valued at $1,270,000 after acquiring an additional 32,182 shares. Renaissance Technologies LLC raised its holdings by an impressive 675.9% in the second quarter, bringing their total to 131,900 shares worth $326,000 after purchasing an additional 114,900 shares. Bank of New York Mellon Corp and Marshall Wace LLP also established new positions in the stock, valued at approximately $120,000 and $91,000 respectively. Barclays PLC enhanced its stake by 332.6% during the third quarter, now holding a total of 29,160 shares valued at $67,000. Overall, institutional investors and hedge funds own 2.74% of the company’s shares.

Company Overview

Golden Matrix Group, Inc. offers enterprise software-as-a-service (SaaS) solutions designed for online casino and sports betting operators. The company is involved in developing and owning online gaming intellectual property and building gaming platforms primarily for clients in the Asia Pacific region. Its platform allows customers to operate online casinos, sportsbooks, lotteries, and live games, while providing access to a range of licensed gaming content from various providers.

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