Gold prices briefly hit record high over $3,500/oz on fiscal, tariff concerns
Aleksandar Milovanovic, a member of a 10% reporting group, recently increased his stake in Golden Matrix Group, Inc. (NASDAQ:GMGI) with two significant purchases. On March 5 and 6, Milovanovic acquired a total of 21,000 shares of common stock. The transactions, valued at approximately $44,140, were made at prices ranging from $2.04 to $2.17 per share. The purchases come as InvestingPro data shows the company trading near its 52-week low of $1.70, with analysts projecting sales growth for the current year. The company maintains a moderate debt level, with a debt-to-equity ratio of 0.37.
Following these transactions, Milovanovic’s direct ownership in Golden Matrix Group rose to 79,220,291 shares. The purchases were made as part of a broader investment strategy involving a voting agreement with other significant stakeholders in the company. According to InvestingPro, the company has demonstrated strong revenue growth of 62.5% in the last twelve months, though it currently trades at elevated EBIT and EBITDA multiples. Get comprehensive insider trading analysis and 6 additional ProTips with an InvestingPro subscription.
In other recent news, Golden Matrix Group Inc reported a strong financial performance for the fourth quarter of 2024, with a notable 63% increase in revenue year-over-year, reaching $151 million. Despite this significant revenue growth, the company recorded a net loss of $1.5 million. The company’s strategic initiatives included the launch of innovative AI-driven products and expansion through new acquisitions and technology upgrades. Looking ahead, Golden Matrix projects a Q1 2025 revenue growth of 69-81% year-over-year, with expected revenue between $42 million and $45 million. The company’s future revenue forecasts for FY2025 and FY2026 are set at $187.5 million and $225 million, respectively. CEO Brian Goodman highlighted 2024 as a "transformational year," focusing on profitability and operational efficiency. The company remains committed to maximizing shareholder value, as emphasized by CFO Rich Christensen. These developments reflect Golden Matrix’s strong growth trajectory and strategic focus on innovation and market expansion.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.