Sunday, 19 May 2019

GWG (GWGH) Rating Increased to Buy at Zacks Investment Research

GWG (NASDAQ:GWGH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday. The brokerage presently has a $7.25 target price on the financial services provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 16.00% from the company’s previous close.

According to Zacks, “GWG 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 Company’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. “

Several other research firms have also commented on GWGH. ValuEngine raised GWG from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 27th. Maxim Group reissued a “buy” rating and issued a $14.00 price target on shares of GWG in a research report on Thursday, August 16th.

Shares of GWGH traded down $0.15 during trading hours on Monday, hitting $6.25. The company had a trading volume of 1,700 shares, compared to its average volume of 9,565. The firm has a market cap of $37.21 million, a price-to-earnings ratio of 1.98, a PEG ratio of 0.70 and a beta of 0.68. The company has a current ratio of 23.78, a quick ratio of 23.78 and a debt-to-equity ratio of -14.37. GWG has a one year low of $5.85 and a one year high of $13.10.

GWG (NASDAQ:GWGH) last released its quarterly earnings results on Wednesday, August 15th. The financial services provider reported $1.76 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.85) by $2.61. The firm had revenue of $24.32 million during the quarter, compared to analyst estimates of $22.33 million. GWG had a negative return on equity of 87.97% and a negative net margin of 38.85%. On average, equities research analysts forecast that GWG will post 0.46 EPS for the current year.

A hedge fund recently bought a new stake in GWG stock. Groesbeck Investment Management Corp NJ purchased a new position in GWG Holdings Inc (NASDAQ:GWGH) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 35,455 shares of the financial services provider’s stock, valued at approximately $275,000. Groesbeck Investment Management Corp NJ owned approximately 0.61% of GWG at the end of the most recent quarter. Hedge funds and other institutional investors own 0.27% of the company’s stock.

About GWG

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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