Bragg Gaming Group (NASDAQ:BRAG) Stock Price Down 1.7% - What's Next?

Key Points

• Bragg Gaming Group's stock price fell by 1.7%, trading between $3.95 and $3.98, with an increase in trading volume by 31% compared to its average session.
• Analysts at JMP Securities maintained a "market outperform" rating with a price target of $6.00 for Bragg Gaming Group stocks.
• The company reported a quarterly loss of ($0.12) earnings per share, missing analyst expectations, with revenues also below predictions at $27.59 million.

Shares of Bragg Gaming Group Inc. (NASDAQ:BRAG - Get Free Report) fell 1.7% during mid-day trading on Thursday . The company traded as low as $3.95 and last traded at $3.98. 69,348 shares traded hands during mid-day trading, an increase of 31% from the average session volume of 53,140 shares. The stock had previously closed at $4.05.

Analyst Upgrades and Downgrades

Separately, JMP Securities reiterated a "market outperform" rating and issued a $6.00 price objective on shares of Bragg Gaming Group in a research note on Friday, May 16th.

Bragg Gaming Group Stock Down 1.7%

The firm has a market cap of $99.66 million, a PE ratio of -14.74 and a beta of 0.86. The company has a 50-day simple moving average of $4.34 and a two-hundred day simple moving average of $4.40.

Bragg Gaming Group (NASDAQ:BRAG - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.11). The company had revenue of $27.59 million during the quarter, compared to analysts' expectations of $28.63 million. Bragg Gaming Group had a negative return on equity of 8.14% and a negative net margin of 5.63%. As a group, equities analysts predict that Bragg Gaming Group Inc. will post -0.14 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BRAG. Renaissance Technologies LLC increased its stake in shares of Bragg Gaming Group by 20.1% during the 4th quarter. Renaissance Technologies LLC now owns 133,200 shares of the company's stock worth $493,000 after purchasing an additional 22,305 shares during the last quarter. NewEdge Advisors LLC increased its position 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 buying an additional 17,693 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Bragg Gaming Group by 15.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 82,944 shares of the company's stock valued at $307,000 after buying an additional 10,838 shares during the period. Two Sigma Securities LLC purchased a new position in shares of Bragg Gaming Group during the 4th quarter valued at $64,000. Finally, Millennium Management LLC bought a new position in shares of Bragg Gaming Group during the 4th quarter worth $58,000. 4.04% of the stock is currently 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.

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