Citizens Jmp Reaffirms Market Perform Rating for Bragg Gaming Group (NASDAQ:BRAG)

Bragg Gaming Group (NASDAQ:BRAG)‘s stock had its “market perform” rating reiterated by equities researchers at Citizens Jmp in a research note issued on Friday, Marketbeat Ratings reports.

A number of other analysts have also recently weighed in on the stock. Citigroup cut shares of Bragg Gaming Group from an “outperform” rating to a “market perform” rating in a report on Friday. Benchmark lowered shares of Bragg Gaming Group from a “buy” rating to a “hold” rating and set a $6.00 price objective for the company. in a research note on Monday, August 18th. JMP Securities decreased their price objective on shares of Bragg Gaming Group from $6.00 to $4.00 and set a “market outperform” rating for the company in a research note on Friday, August 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bragg Gaming Group in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $7.00.

Bragg Gaming Group Stock Performance

Shares of NASDAQ:BRAG opened at $2.73 on Friday. The stock has a market capitalization of $68.36 million, a price-to-earnings ratio of -11.38 and a beta of 0.85. Bragg Gaming Group has a 1-year low of $2.59 and a 1-year high of $6.12. The company has a 50 day moving average price of $2.88 and a 200 day moving average price of $3.74.

Bragg Gaming Group (NASDAQ:BRAG) last issued its earnings results on Thursday, August 14th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). The business had revenue of $30.72 million for the quarter, compared to the consensus estimate of $27.86 million. Bragg Gaming Group had a negative return on equity of 7.51% and a negative net margin of 5.04%. Bragg Gaming Group has set its FY 2025 guidance at EPS. On average, sell-side analysts expect 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 institutional investors have recently modified their holdings of BRAG. Cidel Asset Management Inc. boosted its stake 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 valued at $815,000 after buying an additional 32,179 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Bragg Gaming Group by 40.0% during 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. XTX Topco Ltd acquired a new stake in shares of Bragg Gaming Group during the 1st quarter valued at $77,000. Finally, Militia Capital Partners LP acquired a new stake in shares of Bragg Gaming Group during the 1st quarter valued at $58,000. Institutional investors and hedge funds own 4.04% of the company’s stock.

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.