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

Shares of Bragg Gaming Group Inc. (NASDAQ:BRAG) have been assigned an average rating of “Reduce” from the five brokerages that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $5.00.

A number of research analysts have recently issued reports on the company. Weiss Ratings raised Bragg Gaming Group from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 1st. Zacks Research upgraded Bragg Gaming Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 29th.

Institutional Trading of Bragg Gaming Group

Several hedge funds have recently modified their holdings of BRAG. Jane Street Group LLC lifted its position in shares of Bragg Gaming Group by 43.6% during the 4th quarter. Jane Street Group LLC now owns 20,009 shares of the company’s stock valued at $42,000 after acquiring an additional 6,072 shares during the period. Royal Bank of Canada grew its holdings in Bragg Gaming Group by 15.0% in the first quarter. Royal Bank of Canada now owns 57,864 shares of the company’s stock worth $100,000 after purchasing an additional 7,527 shares during the period. Finally, 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 in the last quarter. Institutional investors own 4.04% of the company’s stock.

Bragg Gaming Group Price Performance

NASDAQ BRAG traded down $0.05 during mid-day trading on Tuesday, reaching $1.65. 27,571 shares of the stock were exchanged, compared to its average volume of 67,759. Bragg Gaming Group has a one year low of $1.42 and a one year high of $4.78. The stock has a 50 day simple moving average of $1.86 and a 200-day simple moving average of $1.97. The stock has a market cap of $41.35 million, a P/E ratio of -5.33 and a beta of 0.92.

Bragg Gaming Group (NASDAQ:BRAG) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. Bragg Gaming Group had a negative net margin of 6.27% and a negative return on equity of 10.65%. The business had revenue of $29.64 million for the quarter, compared to analysts’ expectations of $29.00 million. Sell-side analysts anticipate that Bragg Gaming Group will post -0.02 EPS for the current fiscal 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.