Golden Matrix group sees $15,596 stock purchase by 10% owner Milovanovic

Aleksandar Milovanovic, a significant shareholder in Golden Matrix Group, Inc. (NASDAQ:GMGI), recently increased his stake in the company with a series of stock purchases totaling $15,596. According to a recent SEC filing, Milovanovic acquired a total of 7,586 shares of common stock over two days. The company, currently valued at $248 million, has shown impressive revenue growth of 62.5% in the last twelve months, according to InvestingPro data.

The transactions occurred on March 31 and April 1, with shares purchased at prices ranging from $1.99 to $2.09. Following these transactions, Milovanovic's direct ownership of Golden Matrix Group's common stock rose to 79,467,877 shares. With the stock currently trading at $2.01, analysts have set a price target of $4.00, suggesting potential upside. InvestingPro analysis reveals the company maintains a GOOD overall financial health score.

The purchases were made as part of a broader involvement with a voting group, which includes the company's CEO, Anthony Brian Goodman, and Luxor Capital LLC. Despite being part of this group, Milovanovic disclaims any beneficial ownership of securities held by other members. For deeper insights into GMGI's valuation and growth prospects, investors can access the comprehensive Pro Research Report available on InvestingPro.

In other recent news, Golden Matrix Group Inc reported a 63% increase in revenue for Q4 2024, reaching $151 million. Despite the significant revenue growth, the company recorded a net loss of $1.5 million. The company's strategic focus on AI technology and market expansion has contributed to its strong performance. 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 firm has also expanded its market presence through new acquisitions and technology upgrades. Analyst firms have noted the company's robust financial performance, with a gross profit increase of 30% to $89 million. The company’s adjusted EBITDA rose by 4% to $22.2 million, indicating strong operational leverage. Additionally, Golden Matrix has launched innovative AI-driven products to enhance user engagement, further solidifying its market position.

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