Bragg Gaming Group Target of Unusually Large Options Trading (NASDAQ:BRAG)

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Jane Street Group LLC boosted its holdings in shares of Bragg Gaming Group by 43.6% in the 4th quarter. Jane Street Group LLC now owns 20,009 shares of the company’s stock valued at $42,000 after buying an additional 6,072 shares during the period. Royal Bank of Canada grew its position in shares of Bragg Gaming Group by 15.0% during the 1st quarter. Royal Bank of Canada now owns 57,864 shares of the company’s stock valued at $100,000 after buying an additional 7,527 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Bragg Gaming Group by 40.0% during the first quarter. Goldman Sachs Group Inc. now owns 72,263 shares of the company’s stock worth $297,000 after acquiring an additional 20,633 shares during the period. 4.04% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Bragg Gaming Group Stock Up 8.6%

Shares of BRAG traded up $0.16 during mid-day trading on Friday, hitting $2.01. The stock had a trading volume of 50,037 shares, compared to its average volume of 38,955. Bragg Gaming Group has a fifty-two week low of $1.42 and a fifty-two week high of $4.78. The company has a market cap of $50.33 million, a PE ratio of -6.48 and a beta of 0.93. The company’s fifty day simple moving average is $1.79 and its two-hundred day simple moving average is $1.89.

Bragg Gaming Group (NASDAQ:BRAG) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.03. The business had revenue of $29.64 million for the quarter, compared to analyst estimates of $29.00 million. Bragg Gaming Group had a negative return on equity of 10.65% and a negative net margin of 6.27%. Equities analysts expect that Bragg Gaming Group will post -0.02 earnings per share for the current 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.