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

Bragg Gaming Group Inc. (NASDAQ:BRAG) has been given an average rating of “Hold” by the six brokerages that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $7.00.

A number of equities analysts have recently issued reports on BRAG shares. Citigroup cut Bragg Gaming Group from an “outperform” rating to a “market perform” rating in a report on Friday, October 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Bragg Gaming Group in a research report on Monday. JMP Securities reaffirmed a “market perform” rating and issued a $4.00 target price on shares of Bragg Gaming Group in a research note on Friday, October 17th. Finally, Citizens Jmp reiterated a “market perform” rating on shares of Bragg Gaming Group in a research report on Friday, October 17th.

Hedge Funds Weigh In On Bragg Gaming Group

Large investors have recently added to or reduced their stakes in the business. Militia Capital Partners LP purchased a new stake in Bragg Gaming Group during the first quarter valued at about $58,000. Cidel Asset Management Inc. increased its holdings in shares of Bragg Gaming Group by 20.5% in the second 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 period. Finally, Goldman Sachs Group Inc. lifted 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 acquiring an additional 20,633 shares during the last quarter. Hedge funds and other institutional investors own 4.04% of the company’s stock.

Bragg Gaming Group Price Performance

Shares of NASDAQ:BRAG opened at $2.05 on Wednesday. The company’s fifty day moving average price is $2.22 and its 200-day moving average price is $3.05. The firm has a market capitalization of $51.33 million, a price-to-earnings ratio of -6.03 and a beta of 0.84. Bragg Gaming Group has a one year low of $1.95 and a one year high of $6.12.

Bragg Gaming Group (NASDAQ:BRAG) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.04). The company had revenue of $31.45 million for the quarter, compared to the consensus estimate 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, equities research analysts expect that Bragg Gaming Group will post -0.14 EPS for the current year.

About Bragg Gaming Group

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.