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In a recent transaction, Aleksandar Milovanovic, a key member of a 10% reporting group for Golden Matrix Group, Inc. (NASDAQ:GMGI), purchased 140,000 shares of the company’s common stock. The shares were acquired at prices ranging from $1.89 to $2.00 per share, culminating in a total transaction value of $274,400. The stock currently trades at $2.15, with analysts setting a $4.00 price target. According to InvestingPro analysis, the company appears fairly valued based on its comprehensive Fair Value model.
Following this acquisition, Milovanovic’s direct ownership stands at 79,460,291 shares. This purchase is part of a broader agreement involving several parties, including Golden Matrix’s CEO Anthony Brian Goodman and others, who collectively hold more than 10% of the company’s outstanding shares. The company, with a market capitalization of $267 million, has demonstrated strong revenue growth of 62.5% in the last twelve months. InvestingPro subscribers can access detailed ownership analysis and 6 additional key insights about GMGI’s financial health and prospects.
The transaction highlights ongoing interest and investment in Golden Matrix Group, a company known for its services in the prepackaged software sector. The company maintains a moderate debt level with a debt-to-equity ratio of 0.37 and operates with a healthy gross profit margin of 59%.
In other recent news, Golden Matrix Group Inc reported a significant 63% year-over-year revenue growth for the fourth quarter of 2024, reaching $151 million. Despite this impressive revenue increase, the company experienced a net loss of $1.5 million. Analysts have projected that Golden Matrix’s revenue for the first quarter of 2025 will grow between 69% and 81% year-over-year, potentially reaching $42 million to $45 million. The company has also expanded its market presence through strategic acquisitions and technology upgrades, including the launch of AI-driven products. These developments are part of Golden Matrix’s broader strategy to enhance user engagement and capitalize on the growing iGaming market. Additionally, the company has a strong balance sheet with $30 million in cash and cash equivalents, positioning it well for future growth opportunities. The focus on AI technology and market expansion has positioned Golden Matrix among the top five global gaming companies. Furthermore, the company’s strategic initiatives have bolstered investor confidence, as reflected in the positive stock movement following the earnings announcement.
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