Bragg Gaming Group (NASDAQ:BRAG) Price Target Cut to $4.00 by Analysts at JMP Securities

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 target decreased by JMP Securities from $6.00 to $4.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a "market outperform" rating on the stock. JMP Securities' price target would suggest a potential upside of 43.37% from the company's previous close.

Bragg Gaming Group Stock Performance

Shares of BRAG stock traded down $0.05 during trading hours on Friday, hitting $2.79. 76,460 shares of the company were exchanged, compared to its average volume of 63,168. Bragg Gaming Group has a one year low of $2.76 and a one year high of $6.12. The business's 50-day simple moving average is $4.19 and its two-hundred day simple moving average is $4.34. The stock has a market capitalization of $69.87 million, a price-to-earnings ratio of -11.63 and a beta of 0.85.

Bragg Gaming Group (NASDAQ:BRAG - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.02). 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 the consensus estimate of $27.86 million. Bragg Gaming Group has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Bragg Gaming Group will post -0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Bragg Gaming Group

Large investors have recently bought and sold shares of the business. Millennium Management LLC bought a new position in Bragg Gaming Group in the fourth quarter worth about $58,000. Renaissance Technologies LLC lifted its holdings in Bragg Gaming Group by 20.1% in the fourth quarter. Renaissance Technologies LLC now owns 133,200 shares of the company's stock worth $493,000 after acquiring an additional 22,305 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Bragg Gaming Group by 15.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 82,944 shares of the company's stock worth $307,000 after acquiring an additional 10,838 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in Bragg Gaming Group by 589,766.7% in the fourth quarter. NewEdge Advisors LLC now owns 17,696 shares of the company's stock worth $65,000 after acquiring an additional 17,693 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in Bragg Gaming Group in the first quarter worth about $77,000. Institutional investors own 4.04% of the company's stock.

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.