Bragg Gaming Group Inc. (NASDAQ:BRAG) Short Interest Update

Bragg Gaming Group Inc. (NASDAQ:BRAG – Get Rating) was the recipient of a large drop in short interest during the month of May. As of May 15th, there was short interest totalling 104,200 shares, a drop of 41.8% from the April 30th total of 179,000 shares. Based on an average daily trading volume, of 7,600 shares, the short-interest ratio is currently 13.7 days. Approximately 0.8% of the shares of the company are sold short.

Institutional Investors Weigh In On Bragg Gaming Group

Several institutional investors have recently made changes to their positions in BRAG. Lynwood Capital Management Inc. purchased a new stake in shares of Bragg Gaming Group during the 4th quarter worth $849,000. UBS Group AG raised its stake in shares of Bragg Gaming Group by 467.5% during the 1st quarter. UBS Group AG now owns 85,493 shares of the company’s stock worth $614,000 after buying an additional 70,429 shares during the last quarter. Royce & Associates LP raised its stake in shares of Bragg Gaming Group by 20.0% during the 1st quarter. Royce & Associates LP now owns 300,000 shares of the company’s stock worth $1,065,000 after buying an additional 50,000 shares during the last quarter. Cidel Asset Management Inc. raised its stake in shares of Bragg Gaming Group by 61.7% during the 1st quarter. Cidel Asset Management Inc. now owns 129,516 shares of the company’s stock worth $459,000 after buying an additional 49,411 shares during the last quarter. Finally, HBK Sorce Advisory LLC raised its stake in shares of Bragg Gaming Group by 100.0% during the 4th quarter. HBK Sorce Advisory LLC now owns 50,000 shares of the company’s stock worth $60,000 after buying an additional 25,000 shares during the last quarter. 9.41% of the stock is currently owned by hedge funds and other institutional investors.

Bragg Gaming Group Price Performance

Shares of NASDAQ BRAG traded up $0.07 during trading on Friday, hitting $3.35. 835 shares of the company were exchanged, compared to its average volume of 8,276. The company has a market cap of $72.20 million, a price-to-earnings ratio of -22.33 and a beta of 0.52. Bragg Gaming Group has a 1 year low of $2.89 and a 1 year high of $7.08. The firm’s fifty day moving average price is $3.46 and its 200 day moving average price is $3.70. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.28 and a quick ratio of 1.28.

Bragg Gaming Group (NASDAQ:BRAG – Get Rating) last issued its earnings results on Tuesday, March 21st. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. The company had revenue of $24.18 million for the quarter, compared to analyst estimates of $19.28 million. Bragg Gaming Group had a negative net margin of 3.59% and a negative return on equity of 4.43%.

Wall Street Analysts Forecast Growth

Separately, Benchmark reiterated a “buy” rating and issued a $8.00 price objective on shares of Bragg Gaming Group in a research report on Wednesday, March 22nd.

About Bragg Gaming Group

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Bragg Gaming Group, Inc engages in the operation of a B2B online gaming technology platform and casino content. The firm offers ORYX Gaming, an innovative business to business gaming technology platform and casino content aggregator, and GiveMeSport, a sports media outlet. The company was founded on March 17, 2004 and is headquartered in Toronto, Canada.