JMP Securities Has Lowered Expectations for Bragg Gaming Group (NASDAQ:BRAG) Stock Price

Key Points

• Analysts at JMP Securities have cut their price target for Bragg Gaming Group from $6.00 to $4.00, maintaining a "market outperform" rating which suggests a potential upside of 31.58% from the current price.
• Bragg Gaming Group reported earnings of ($0.08) per share, missing the consensus estimate by ($0.02), despite generating revenue of $30.72 million for the quarter.
• Institutional investors have been active in reshaping their stakes in Bragg Gaming Group, with Dimensional Fund Advisors increasing its holding by 15% and several others acquiring new stakes in the fourth quarter.

Bragg Gaming Group (NASDAQ:BRAG - Get Free Report) had its price objective dropped by JMP Securities from $6.00 to $4.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a "market outperform" rating on the stock. JMP Securities' price target points to a potential upside of 36.52% from the stock's previous close.

Bragg Gaming Group Stock Performance

Bragg Gaming Group stock remained flat at $2.93 during mid-day trading on Friday. 197,298 shares of the company's stock traded hands, compared to its average volume of 60,640. Bragg Gaming Group has a one year low of $2.77 and a one year high of $6.12. The business has a 50-day moving average of $4.24 and a two-hundred day moving average of $4.36. The stock has a market cap of $73.37 million, a PE ratio of -12.21 and a beta of 0.85.

Bragg Gaming Group (NASDAQ:BRAG - Get Free Report) last posted its earnings results on Thursday, August 14th. The company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.02). Bragg Gaming Group had a negative net margin of 5.04% and a negative return on equity of 7.48%. The company had revenue of $30.72 million during the quarter, compared to analysts' expectations of $27.86 million. As a group, equities analysts expect that Bragg Gaming Group will post -0.14 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BRAG. Cidel Asset Management Inc. increased its holdings in shares of Bragg Gaming Group by 20.5% in the 2nd quarter. Cidel Asset Management Inc. now owns 189,077 shares of the company's stock valued at $815,000 after acquiring an additional 32,179 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of 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 buying an additional 20,633 shares during the last quarter. Militia Capital Partners LP acquired a new stake in shares of Bragg Gaming Group during the first quarter worth about $58,000. XTX Topco Ltd purchased a new position in shares of Bragg Gaming Group during the first quarter worth about $77,000. Finally, Millennium Management LLC acquired a new stake in Bragg Gaming Group during the 4th quarter worth approximately $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.