Bragg Gaming Group (NASDAQ:BRAG) Receives Market Perform Rating from Citizens Jmp

Key Points

• Citizens Jmp has reiterated a "market perform" rating for Bragg Gaming Group, amid analysis by other firms that have recently downgraded the stock.
• Bragg's shares currently have a fifty-two week low of $2.59 and a high of $6.12, with a recent trading price around $2.84.
• The company's latest earnings report showed a loss of ($0.08) earnings per share, missing analyst expectations, with revenue reported at $30.72 million.

Bragg Gaming Group (NASDAQ:BRAG - Get Free Report)'s stock had its "market perform" rating reaffirmed by analysts at Citizens Jmp in a research note issued to investors on Friday, MarketBeat reports.

A number of other equities research analysts have also recently issued reports on the stock. Benchmark cut shares of Bragg Gaming Group from a "buy" rating to a "hold" rating and set a $6.00 target price for the company. in a research report on Monday, August 18th. JMP Securities reduced their target price 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. Citigroup cut shares of Bragg Gaming Group from an "outperform" rating to a "market perform" rating in a research report on Friday. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Bragg Gaming Group in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $7.00.

Bragg Gaming Group Trading Down 1.6%

Shares of NASDAQ:BRAG traded down $0.05 on Friday, hitting $2.82. The company had a trading volume of 38,374 shares, compared to its average volume of 54,284. Bragg Gaming Group has a 1-year low of $2.59 and a 1-year high of $6.12. The stock has a market cap of $70.49 million, a price-to-earnings ratio of -11.75 and a beta of 0.85. The stock has a 50 day moving average price of $2.90 and a 200 day moving average price of $3.75.

Bragg Gaming Group (NASDAQ:BRAG - Get Free Report) last announced its earnings results on Thursday, August 14th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.02). The business had revenue of $30.72 million during the quarter, compared to the consensus estimate of $27.86 million. Bragg Gaming Group had a negative net margin of 5.04% and a negative return on equity of 7.51%. Bragg Gaming Group has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Bragg Gaming Group will post -0.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Militia Capital Partners LP bought a new position in shares of Bragg Gaming Group in the first quarter worth about $58,000. XTX Topco Ltd acquired a new position in Bragg Gaming Group in the 1st quarter valued at approximately $77,000. Cidel Asset Management Inc. increased its position in Bragg Gaming Group by 23.6% in the 1st quarter. Cidel Asset Management Inc. now owns 156,898 shares of the company's stock valued at $654,000 after acquiring an additional 29,913 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Bragg Gaming Group by 40.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 72,263 shares of the company's stock valued at $297,000 after acquiring an additional 20,633 shares during the period. 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.