What is Zacks Small Cap’s Estimate for GMGI FY2024 Earnings?

Golden Matrix Group, Inc. (NASDAQ:GMGI) – Research analysts at Zacks Small Cap issued their FY2024 EPS estimates for shares of Golden Matrix Group in a note issued to investors on Monday, January 27th. Zacks Small Cap analyst M. Marin anticipates that the company will post earnings per share of $0.03 for the year. Zacks Small Cap also issued estimates for Golden Matrix Group’s Q4 2024 earnings at $0.01 EPS and FY2025 earnings at $0.08 EPS.

Golden Matrix Group Trading Down 1.5 %

Shares of NASDAQ:GMGI opened at $1.94 on Thursday. The firm has a fifty day moving average of $2.13 and a two-hundred day moving average of $2.31. Golden Matrix Group has a 12-month low of $1.86 and a 12-month high of $6.27. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.82 and a quick ratio of 0.75.

Golden Matrix Group (NASDAQ:GMGI) last issued its earnings results on Tuesday, November 12th. The company reported ($0.03) earnings per share (EPS) for the quarter. The company had revenue of $40.99 million for the quarter. Golden Matrix Group had a negative net margin of 3.07% and a negative return on equity of 3.93%.

Insider Activity at Golden Matrix Group

In other news, insider Aleksandar Milovanovic bought 14,038 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were purchased at an average price of $2.69 per share, for a total transaction of $37,762.22. Following the acquisition, the insider now directly owns 77,502,008 shares of the company’s stock, valued at $208,480,401.52. The trade was a 0.02 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 23.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Golden Matrix Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in Golden Matrix Group by 6.3% in the third quarter. Geode Capital Management LLC now owns 545,071 shares of the company’s stock valued at $1,270,000 after buying an additional 32,182 shares in the last quarter. Barclays PLC raised its stake in shares of Golden Matrix Group by 332.6% during the third quarter. Barclays PLC now owns 29,160 shares of the company’s stock worth $67,000 after buying an additional 22,420 shares during the last quarter. Renaissance Technologies LLC increased its stake in Golden Matrix Group by 675.9% in the second quarter. Renaissance Technologies LLC now owns 131,900 shares of the company’s stock valued at $326,000 after purchasing an additional 114,900 shares in the last quarter. Marshall Wace LLP bought a new stake in Golden Matrix Group in the second quarter valued at approximately $91,000. Finally, XTX Topco Ltd bought a new stake in Golden Matrix Group in the second quarter valued at approximately $30,000. 2.74% of the stock is currently owned by institutional investors and hedge funds.

Golden Matrix Group Company Profile

Golden Matrix Group, Inc provides enterprise software-as-a-service solutions for online casino and sports betting operators. The company develops and owns online gaming intellectual property; and builds gaming platforms for customers located primarily in the Asia Pacific region. Its platform facilitates gaming customers in operating online casinos, sportsbooks, lottery, and live games; and provides customers with access to a portfolio of licensed gaming content, which are provided by gaming content providers.