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Aleksandar Milovanovic, a key figure in a 10% reporting group, has recently acquired a significant amount of Golden Matrix Group, Inc. (NASDAQ:GMGI) stock. According to a recent SEC filing, Milovanovic purchased 50,000 shares of common stock on March 7, 2025, at prices ranging from $2.03 to $2.20 per share, totaling approximately $108,000. The purchase comes as GMGI trades at $2.06, with a market cap of $444 million and an attractive P/E ratio of 5.1. InvestingPro analysis indicates the stock is trading 67% below its 52-week high of $6.27.
Following this transaction, Milovanovic’s direct ownership increased to 79,214,552 shares. This purchase is part of a broader Nominating and Voting Agreement that includes other notable parties such as the company’s CEO, Anthony Brian Goodman, and Luxor Capital LLC. Despite being part of this group, Milovanovic disclaims any beneficial ownership of shares held by other group members. Investors should note that GMGI is scheduled to report earnings on March 13, with analysts setting a $4 price target. InvestingPro subscribers can access additional insights, including the observation that GMGI currently suffers from weak gross profit margins.
In other recent news, Golden Matrix Group has announced the appointment of Richard Christensen as its new Chief Financial Officer. Christensen, with over 25 years of experience in finance, is expected to enhance the company’s financial management as it continues its global operations. Additionally, Golden Matrix’s subsidiary, Meridianbet, secured a 10-year renewal for its online gaming license in Serbia, ensuring continued revenue reliability in this market. This renewal underscores the company’s commitment to meeting high regulatory standards and supports its European and global market expansion efforts.
Furthermore, Golden Matrix expanded its Board of Directors by appointing Ms. Snezana Bozovic, aiming to strengthen corporate governance and market position. In a strategic move, the company also entered into an Amended and Restated Nominating and Voting Agreement, reshaping its board structure to maintain a stable governance framework. Recent developments also include the approval of new compensatory arrangements for executives and board members, with incentives tied to performance metrics through 2025. These arrangements are part of the company’s 2023 Equity Incentive Plan, aligning leadership interests with shareholder goals.
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