Cidel Asset Management Inc. Buys 32,179 Shares of Bragg Gaming Group Inc. $BRAG

Cidel Asset Management Inc. boosted its stake in Bragg Gaming Group Inc. (NASDAQ:BRAG) by 20.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 189,077 shares of the company’s stock after purchasing an additional 32,179 shares during the quarter. Cidel Asset Management Inc.’s holdings in Bragg Gaming Group were worth $815,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. grew its stake in 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 acquiring an additional 20,633 shares during the period. XTX Topco Ltd acquired a new position in Bragg Gaming Group in the first quarter valued at about $77,000. Finally, Militia Capital Partners LP acquired a new position in Bragg Gaming Group in the first quarter valued at about $58,000. 4.04% of the stock is owned by institutional investors and hedge funds.

Bragg Gaming Group Price Performance

BRAG stock opened at $2.73 on Monday. The stock has a market capitalization of $68.36 million, a P/E ratio of -11.38 and a beta of 0.85. The business has a 50-day moving average of $2.88 and a 200-day moving average of $3.74. Bragg Gaming Group Inc. has a fifty-two week low of $2.59 and a fifty-two week high of $6.12.

Bragg Gaming Group (NASDAQ:BRAG) last posted its quarterly earnings data on Thursday, August 14th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.02). The firm had revenue of $30.72 million for the quarter, compared to analyst estimates of $27.86 million. Bragg Gaming Group had a negative return on equity of 7.51% and a negative net margin of 5.04%. Bragg Gaming Group has set its FY 2025 guidance at EPS. Equities analysts expect that Bragg Gaming Group Inc. will post -0.14 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on BRAG. Citizens Jmp reissued a “market perform” rating on shares of Bragg Gaming Group in a research note on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of Bragg Gaming Group in a research note on Wednesday, October 8th. Benchmark cut Bragg Gaming Group from a “buy” rating to a “hold” rating and set a $6.00 target price for the company. in a research note on Monday, August 18th. Citigroup cut Bragg Gaming Group from an “outperform” rating to a “market perform” rating in a research note on Friday. Finally, JMP Securities reissued a “market perform” rating and issued a $4.00 target price on shares of Bragg Gaming Group in a research note on Friday. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Bragg Gaming Group presently has a consensus rating of “Hold” and an average price target of $7.00.

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.