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

Shares of Bragg Gaming Group Inc. (NASDAQ:BRAG) have received an average rating of “Hold” from the six analysts that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $5.3333.

A number of equities research analysts have weighed in on BRAG shares. Zacks Research upgraded Bragg Gaming Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 29th. Maxim Group lowered their target price on shares of Bragg Gaming Group to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, June 9th. Finally, Weiss Ratings cut shares of Bragg Gaming Group from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, July 16th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. increased its stake in Bragg Gaming Group by 40.0% in the first quarter. Goldman Sachs Group Inc. now owns 72,263 shares of the company’s stock valued at $297,000 after purchasing an additional 20,633 shares during the period. Royal Bank of Canada raised its holdings in shares of Bragg Gaming Group by 15.0% in the first quarter. Royal Bank of Canada now owns 57,864 shares of the company’s stock valued at $100,000 after buying an additional 7,527 shares during the last quarter. Finally, Jane Street Group LLC boosted its stake in shares of Bragg Gaming Group by 43.6% during the fourth quarter. Jane Street Group LLC now owns 20,009 shares of the company’s stock worth $42,000 after buying an additional 6,072 shares during the period. 4.04% of the stock is owned by hedge funds and other institutional investors.

Bragg Gaming Group Stock Performance

Bragg Gaming Group stock opened at $1.62 on Wednesday. The company has a market capitalization of $49.36 million, a P/E ratio of -5.23 and a beta of 0.93. Bragg Gaming Group has a fifty-two week low of $1.42 and a fifty-two week high of $4.31. The stock has a 50-day simple moving average of $1.71 and a 200-day simple moving average of $1.85.

Bragg Gaming Group (NASDAQ:BRAG) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. The firm had revenue of $29.64 million for the quarter, compared to the consensus estimate of $29.00 million. Bragg Gaming Group had a negative return on equity of 10.65% and a negative net margin of 6.27%. As a group, analysts forecast that Bragg Gaming Group will post -0.02 earnings per share for the current year.

Bragg Gaming Group Company Profile

Bragg Gaming Group is a business-to-business supplier of online gaming content, technology and platform solutions. The company develops and distributes a mix of proprietary, third-party and licensed casino games, including video slots, table games and live dealer experiences. Its core offering centers on a scalable gaming platform designed to support operator integration, player management and advanced analytics.

Bragg’s technology stack features its flagship ORYX Gaming platform, which provides a centralized hub for game aggregation, platform services and regulatory compliance tools.