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Aleksandar Milovanovic, a significant shareholder of Golden Matrix Group, Inc. (NASDAQ:GMGI), recently increased his stake in the company with two separate transactions. Milovanovic acquired a total of 9,212 shares of common stock, valued at approximately $18,497. The purchases were made at prices ranging from $1.97 to $2.04 per share, with the stock currently trading at $2.15, near its 52-week low of $1.70. According to InvestingPro data, the company has a market capitalization of $267 million and has shown strong revenue growth of 62.5% over the last twelve months.
The transactions took place on February 25 and February 27, 2025. Following these acquisitions, Milovanovic holds a direct ownership of 79,182,150 shares in Golden Matrix Group. It is important to note that these figures exclude shares associated with a voting group, as detailed in a prior agreement. InvestingPro analysis shows the company operates with a moderate debt-to-equity ratio of 0.37, while maintaining a gross profit margin of 58.6%.
Milovanovic is part of a group that includes other key figures such as Golden Matrix’s CEO, Anthony Brian Goodman, and Luxor Capital LLC, among others. This group collectively holds more than 10% of the company’s outstanding shares. However, Milovanovic has clarified that he does not have any beneficial ownership or pecuniary interest in the securities owned by other members of this group. For deeper insights into GMGI’s ownership structure and comprehensive financial analysis, including additional ProTips and detailed valuation metrics, visit InvestingPro.
In other recent news, Golden Matrix Group Inc reported a significant 63% year-over-year increase in revenue for Q4 2024, reaching $151 million. Despite this impressive growth, the company recorded a net loss of $1.5 million for the quarter. Looking ahead, Golden Matrix projects Q1 2025 revenue to grow between 69% and 81% year-over-year, with estimates ranging from $42 million to $45 million. The company has been focusing on expanding its market presence through strategic acquisitions and technology upgrades, which have bolstered its competitive positioning in the global iGaming sector. Additionally, Golden Matrix launched new AI-driven products to enhance user engagement, a move that aligns with their strategic focus on innovation. The company has also made significant strides in expanding its portfolio, particularly in the UK, Europe, and Latin America. Analysts from various firms are closely watching these developments, noting the company’s strategic initiatives and future growth prospects.
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