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Director Thomas McChesney of Golden Matrix Group, Inc. (NASDAQ:GMGI), a $242 million market cap company showing strong revenue growth of 78% over the last twelve months, sold 10,000 shares of common stock in two transactions on June 23 and June 24, 2025. The sales, totaling $17,350, were executed at prices ranging from $1.65 to $1.82 per share. According to InvestingPro analysis, the stock appears fairly valued at current levels.
On June 23, McChesney sold 5,000 shares at $1.65 per share. Following this transaction, he directly owned 289,710 shares. The next day, June 24, he sold an additional 5,000 shares at $1.82 per share, leaving him with 284,710 shares. The stock has shown recent momentum with a 10.8% gain over the past week, though it trades at a relatively high EV/EBITDA multiple of 20.7x. Discover more insights and 6 additional key tips for GMGI with InvestingPro.
In other recent news, Golden Matrix Group Inc. reported its Q1 2025 earnings, showcasing a 72% increase in revenue year-over-year, reaching $42.7 million. Despite the impressive revenue growth, the company recorded a net loss of $300,000, which aligned with market expectations. Golden Matrix’s revenue slightly surpassed forecasts, though its earnings per share met the anticipated 0¢ per share. The company has launched its fifth-generation sports betting platform, Atlas, and expanded its market presence in Brazil and Nigeria, securing a permanent online betting license in Brazil. Analysts have noted these strategic expansions as positive moves, yet the company continues to face challenges in turning revenue growth into profitability. Golden Matrix’s financial position remains strong with $29.7 million in cash and cash equivalents, despite the net loss. The company projects full-year revenue between $190 million and $195 million, with anticipated growth of 26-29% for 2024. These developments highlight Golden Matrix’s strategic initiatives and ongoing market expansion efforts.
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