Bragg Gaming Group Inc. (NASDAQ:BRAG) Receives Consensus Recommendation of “Hold” from Analysts

Bragg Gaming Group Inc. (NASDAQ:BRAG) has been assigned an average recommendation of “Hold” from the six analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $7.00.

A number of equities research analysts have recently commented on BRAG shares. JMP Securities reiterated a “market perform” rating and issued a $4.00 target price on shares of Bragg Gaming Group in a research report on Friday, October 17th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Bragg Gaming Group in a report on Monday. Citizens Jmp restated a “market perform” rating on shares of Bragg Gaming Group in a report on Friday, October 17th. Citigroup cut Bragg Gaming Group from an “outperform” rating to a “market perform” rating in a report on Friday, October 17th. Finally, Benchmark downgraded Bragg Gaming Group from a “buy” rating to a “hold” rating and set a $6.00 price objective on the stock. in a research report on Monday, August 18th.

Bragg Gaming Group Price Performance

Shares of Bragg Gaming Group stock opened at $2.25 on Friday. The stock has a market capitalization of $56.34 million, a P/E ratio of -6.62 and a beta of 0.84. The business has a 50 day simple moving average of $2.47 and a two-hundred day simple moving average of $3.32. Bragg Gaming Group has a 12 month low of $1.96 and a 12 month high of $6.12.

Bragg Gaming Group (NASDAQ:BRAG) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.04). The firm had revenue of $31.45 million for the quarter, compared to analysts’ expectations of $26.56 million. Bragg Gaming Group had a negative return on equity of 11.05% and a negative net margin of 7.08%. As a group, research analysts anticipate that Bragg Gaming Group will post -0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Bragg Gaming Group

A number of hedge funds have recently modified their holdings of BRAG. XTX Topco Ltd acquired a new stake in Bragg Gaming Group during the first quarter worth about $77,000. Goldman Sachs Group Inc. grew its stake in shares of Bragg Gaming Group by 40.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 72,263 shares of the company’s stock valued at $297,000 after buying an additional 20,633 shares during the period. Militia Capital Partners LP purchased a new stake in shares of Bragg Gaming Group in the 1st quarter valued at approximately $58,000. Finally, Cidel Asset Management Inc. increased its holdings in shares of Bragg Gaming Group by 20.5% during the 2nd quarter. Cidel Asset Management Inc. now owns 189,077 shares of the company’s stock worth $815,000 after buying an additional 32,179 shares during the last quarter. Hedge funds and other institutional investors own 4.04% of the company’s stock.

About Bragg Gaming Group

Bragg Gaming Group Inc provides business to business online gaming technology platform and casino content aggregator worldwide. The company offers a range of games, including slot, table, card, video bingo, scratch card, and virtual sports, as well as live dealer games. It also provides player account management platform, a multi-channel and cross-product that enables operators to manage the entire product suite using one shared account and one wallet for casino, lottery, sportsbook, and other operations; and Fuze, a single integrated platform that delivers third party gaming content.