Gold prices cool after hitting over 2-week high on Fed independence fears
Aleksandar Milovanovic, a significant shareholder of Golden Matrix Group, Inc. (NASDAQ:GMGI), a $251 million market cap company, has increased his holdings with recent purchases of common stock. According to a recent SEC filing, Milovanovic acquired a total of 150,880 shares over two transactions. InvestingPro data shows the company generated $151.12 million in revenue with a healthy gross margin of 58.61%.
The first transaction, executed on April 10, involved the purchase of 4,800 shares at a price ranging from $1.89 to $1.90 per share. The second transaction, on April 14, saw Milovanovic purchasing an additional 146,080 shares, with prices ranging from $1.81 to $1.95 per share. These acquisitions amounted to a total investment of approximately $292,515. The current share price of $1.90 represents a significant discount from its 52-week high of $6.27.
Following these transactions, Milovanovic’s direct ownership in Golden Matrix Group now stands at 84,462,583 shares. This increase in holdings underscores his position as a key member of a 10% reporting group, as defined by the Securities Exchange Act of 1934. InvestingPro analysis reveals that while the company is trading at a high EBIT multiple, analysts anticipate sales growth of 32% in the current year. Get access to 6 more exclusive InvestingPro Tips and a comprehensive Pro Research Report for deeper insights into GMGI’s valuation and growth prospects.
In other recent news, Golden Matrix Group Inc. reported a substantial 63% year-over-year revenue increase for Q4 2024, reaching $151 million, although it posted a net loss of $1.5 million. The company projects significant revenue growth for Q1 2025, estimating an increase of 69-81% year-over-year. In a strategic financial move, Golden Matrix announced that the founders of its subsidiary Meridianbet converted approximately $9.57 million of acquisition-related debt into company equity, which is expected to improve its financial flexibility. This debt conversion leaves only $250,000 remaining on the 12-month contingency owed to Meridianbet founders. The company has been expanding its market presence with new acquisitions and technology upgrades, including the launch of innovative AI-driven products. Analysts from various firms have noted these developments, reflecting the company’s strategic focus on growth and innovation. Golden Matrix’s financial strategy includes optimizing its capital structure and expanding into new markets, as stated by CFO Rich Christensen.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.