JMP Securities Reaffirms “Market Outperform” Rating for Bragg Gaming Group (NASDAQ:BRAG)

Bragg Gaming Group (NASDAQ:BRAG)‘s stock had its “market outperform” rating reissued by research analysts at JMP Securities in a report released on Friday,Benzinga reports. They currently have a $6.00 price target on the stock. JMP Securities’ target price suggests a potential upside of 28.21% from the stock’s previous close.

A number of other research firms also recently weighed in on BRAG. Maxim Group boosted their target price on shares of Bragg Gaming Group from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Citigroup restated an “outperform” rating on shares of Bragg Gaming Group in a report on Friday, March 21st. Finally, Benchmark cut shares of Bragg Gaming Group from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, January 30th.

Bragg Gaming Group Stock Performance

Shares of NASDAQ BRAG opened at $4.68 on Friday. The company has a market cap of $117.20 million, a P/E ratio of -19.50 and a beta of 0.83. The firm’s fifty day moving average is $4.08 and its two-hundred day moving average is $4.14. Bragg Gaming Group has a 52-week low of $2.86 and a 52-week high of $6.70.

Bragg Gaming Group (NASDAQ:BRAG) last announced its quarterly earnings results on Thursday, May 15th. The company reported ($0.12) earnings per share (EPS) for the quarter. Bragg Gaming Group had a negative net margin of 5.33% and a negative return on equity of 7.42%. As a group, analysts forecast that Bragg Gaming Group will post -0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Bragg Gaming Group

A number of large investors have recently made changes to their positions in the company. Cidel Asset Management Inc. boosted its stake in shares of Bragg Gaming Group by 23.6% during the 1st quarter. Cidel Asset Management Inc. now owns 156,898 shares of the company’s stock worth $654,000 after purchasing an additional 29,913 shares during the period. Renaissance Technologies LLC boosted its position in Bragg Gaming Group by 20.1% in the 4th quarter. Renaissance Technologies LLC now owns 133,200 shares of the company’s stock valued at $493,000 after buying an additional 22,305 shares during the period. Dimensional Fund Advisors LP boosted its position in Bragg Gaming Group by 15.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 82,944 shares of the company’s stock valued at $307,000 after buying an additional 10,838 shares during the period. Goldman Sachs Group Inc. boosted its position in 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. Finally, XTX Topco Ltd purchased a new stake in Bragg Gaming Group in the 1st quarter valued at about $77,000. 4.04% of the stock is owned by hedge funds and other institutional investors.

Bragg Gaming Group Company Profile

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.