Bragg Gaming Group Sees Unusually Large Options Volume (NASDAQ:BRAG)

Bragg Gaming Group Inc. (NASDAQ:BRAG) was the target of some unusual options trading activity on Friday. Traders bought 2,180 call options on the stock. This is an increase of 612% compared to the average daily volume of 306 call options.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its stake in shares of Bragg Gaming Group by 40.0% during the 1st 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 during the period. Royal Bank of Canada raised its holdings in shares of Bragg Gaming Group by 15.0% during the first quarter. Royal Bank of Canada now owns 57,864 shares of the company’s stock worth $100,000 after acquiring an additional 7,527 shares in the last quarter. Finally, Jane Street Group LLC boosted its position in Bragg Gaming Group by 43.6% during the fourth quarter. Jane Street Group LLC now owns 20,009 shares of the company’s stock valued at $42,000 after purchasing an additional 6,072 shares during the last quarter. 4.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Weiss Ratings upgraded shares of Bragg Gaming Group from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 29th. Zacks Research raised Bragg Gaming Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 29th. Finally, Maxim Group lowered their target price on Bragg Gaming Group to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, June 9th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Bragg Gaming Group has a consensus rating of “Hold” and an average price target of $5.33.

Bragg Gaming Group Stock Up 3.8%

NASDAQ:BRAG traded up $0.07 during trading hours on Friday, reaching $1.92. 10,369 shares of the company’s stock were exchanged, compared to its average volume of 37,803. The company has a market capitalization of $48.08 million, a P/E ratio of -6.19 and a beta of 0.93. Bragg Gaming Group has a 12 month low of $1.42 and a 12 month high of $4.78. The business’s 50-day simple moving average is $1.79 and its two-hundred day simple moving average is $1.89.

Bragg Gaming Group (NASDAQ:BRAG) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. The company had revenue of $29.64 million during the quarter, compared to the consensus estimate of $29.00 million. Bragg Gaming Group had a negative return on equity of 10.65% and a negative net margin of 6.27%. As a group, sell-side analysts anticipate that Bragg Gaming Group will post -0.02 earnings per share for the current fiscal year.

Bragg Gaming Group Company Profile

Bragg Gaming Group is a business-to-business supplier of online gaming content, technology and platform solutions. The company develops and distributes a mix of proprietary, third-party and licensed casino games, including video slots, table games and live dealer experiences. Its core offering centers on a scalable gaming platform designed to support operator integration, player management and advanced analytics.

Bragg’s technology stack features its flagship ORYX Gaming platform, which provides a centralized hub for game aggregation, platform services and regulatory compliance tools.