Zacks Investment Research lowered shares of GWG (NASDAQ:GWGH) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.
According to Zacks, â€śGWG Holdings, Inc. and its subsidiaries are engaged in the life insurance secondary market. It offers a variety of solutions for seniors who own life insurance. The Companyâ€™s services allow policyholders to sell, keep, trade or gift their life insurance based upon their needs today. GWG Holdings, Inc. is based in Minneapolis, Minnesota. â€ś
GWGH has been the subject of a number of other reports. ValuEngine raised GWG from a strong sell rating to a sell rating in a research note on Friday, November 2nd. Maxim Group reaffirmed a buy rating and set a $14.00 price objective on shares of GWG in a research note on Thursday, August 16th.
Shares of NASDAQ GWGH traded up $0.10 during midday trading on Thursday, hitting $6.10. The stock had a trading volume of 81 shares, compared to its average volume of 5,605. The stock has a market capitalization of $34.30 million, a P/E ratio of 1.93, a price-to-earnings-growth ratio of 0.64 and a beta of 1.05. GWG has a fifty-two week low of $5.47 and a fifty-two week high of $13.10.
GWG (NASDAQ:GWGH) last released its earnings results on Wednesday, August 15th. The financial services provider reported $1.76 EPS for the quarter, beating the Thomson Reutersâ€™ consensus estimate of ($0.85) by $2.61. The company had revenue of $24.32 million during the quarter, compared to analystsâ€™ expectations of $22.33 million. GWG had a negative return on equity of 87.97% and a negative net margin of 38.85%. As a group, equities research analysts forecast that GWG will post 0.46 earnings per share for the current year.
An institutional investor recently bought a new position in GWG stock. Groesbeck Investment Management Corp NJ acquired a new position in shares of GWG Holdings Inc (NASDAQ:GWGH) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 35,455 shares of the financial services providerâ€™s stock, valued at approximately $275,000. Groesbeck Investment Management Corp NJ owned 0.61% of GWG as of its most recent SEC filing. Institutional investors and hedge funds own 0.95% of the companyâ€™s stock.
GWG Company Profile
GWG Holdings, Inc, a financial services company, purchases life insurance policies in the secondary market in the United States. It purchases or finances life insurance assets from consumers in the secondary market at a discount to the face value of the policy benefit. The company also purchases policies in the secondary market through financial advisors and appointed agents.
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