Bragg Gaming Group (NASDAQ:BRAG) Shares 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.

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

Analyst Ratings Changes

Separately, JMP Securities reissued a "market outperform" rating and issued a $6.00 price target on shares of Bragg Gaming Group in a report on Friday, May 16th.

Bragg Gaming Group Trading Up 1.2%

The company has a market capitalization of $103.16 million, a price-to-earnings ratio of -15.26 and a beta of 0.85. The firm's 50 day moving average price is $4.33 and its two-hundred day moving average price is $4.40.

Bragg Gaming Group (NASDAQ:BRAG - Get Free Report) last announced its earnings results on Thursday, May 15th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.11). The company had revenue of $27.59 million for the quarter, compared to the consensus estimate 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 research analysts predict that Bragg Gaming Group Inc. will post -0.14 EPS for the current year.

Institutional Investors Weigh In On Bragg Gaming Group

Several large investors have recently modified their holdings of BRAG. Cidel Asset Management Inc. grew its holdings in Bragg Gaming Group by 20.5% in the second quarter. Cidel Asset Management Inc. now owns 189,077 shares of the company's stock worth $815,000 after purchasing an additional 32,179 shares during the period. Goldman Sachs Group Inc. lifted its stake 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 in the last quarter. Militia Capital Partners LP bought a new position in shares of Bragg Gaming Group in the first quarter valued at $58,000. XTX Topco Ltd bought a new position in shares of Bragg Gaming Group in the first quarter valued at $77,000. Finally, Millennium Management LLC bought a new position in shares of Bragg Gaming Group in the fourth quarter valued at $58,000. 4.04% of the stock is currently owned by institutional investors and hedge funds.

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.