Bragg Gaming Group (NASDAQ:BRAG) Issues Earnings Results

Key Points

• Bragg Gaming Group reported a quarterly earnings per share (EPS) of ($0.08), missing the consensus estimate by ($0.02), while revenue was $30.72 million, exceeding expectations.
• The company's stock performance revealed a market cap of $73.37 million with a price-to-earnings ratio of -10.85 and a recent trading price of $2.93.
• Goldman Sachs increased its position in Bragg Gaming Group by 40%, owning 0.29% of the company, while JMP Securities downgraded the price target from $6.00 to $4.00.

Bragg Gaming Group (NASDAQ:BRAG - Get Free Report) released its quarterly earnings results on Thursday. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.02), Zacks reports. Bragg Gaming Group had a negative return on equity of 7.51% and a negative net margin of 5.04%.The company had revenue of $30.72 million for the quarter, compared to analysts' expectations of $27.86 million. Bragg Gaming Group updated its FY 2025 guidance to EPS.

Bragg Gaming Group Price Performance

Bragg Gaming Group stock traded down $0.05 during trading hours on Wednesday, hitting $2.79. The stock had a trading volume of 77,160 shares, compared to its average volume of 129,729. Bragg Gaming Group has a 1-year low of $2.76 and a 1-year high of $6.12. The stock has a market capitalization of $69.86 million, a price-to-earnings ratio of -11.63 and a beta of 0.85. The stock's fifty day moving average is $4.16 and its two-hundred day moving average is $4.33.

Analysts Set New Price Targets

BRAG has been the subject of a number of analyst reports. JMP Securities cut 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 report on Friday, August 15th. Benchmark cut shares of Bragg Gaming Group from a "buy" rating to a "hold" rating and set a $6.00 price target for the company. in a report on Monday. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $7.00.

Hedge Funds Weigh In On Bragg Gaming Group

A hedge fund recently raised its stake in Bragg Gaming Group stock. Goldman Sachs Group Inc. grew its holdings in Bragg Gaming Group Inc. (NASDAQ:BRAG - Free Report) by 40.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,263 shares of the company's stock after purchasing an additional 20,633 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.29% of Bragg Gaming Group worth $297,000 at the end of the most recent quarter. 4.04% of the stock is owned by hedge funds and other institutional investors.

About Bragg Gaming Group

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.