GWG (NASDAQ:GWGH) Stock Passes Below 50 Day Moving Average of $9.77

GWG Holdings Inc (NASDAQ:GWGH)’s share price crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $9.77 and traded as low as $8.59. GWG shares last traded at $8.59, with a volume of 92 shares changing hands.

Separately, ValuEngine cut shares of GWG from a “buy” rating to a “hold” rating in a report on Friday, September 6th.

The company has a market cap of $289.04 million, a price-to-earnings ratio of -1.06 and a beta of 0.14. The company has a quick ratio of 29.78, a current ratio of 29.78 and a debt-to-equity ratio of 61.52. The company’s fifty day moving average price is $9.67 and its two-hundred day moving average price is $10.69.

GWG (NASDAQ:GWGH) last announced its earnings results on Monday, August 5th. The financial services provider reported ($0.57) EPS for the quarter. The company had revenue of $25.22 million for the quarter. On average, equities research analysts predict that GWG Holdings Inc will post -0.89 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Moloney Securities Asset Management LLC boosted its holdings in GWG by 24.0% during the second quarter. Moloney Securities Asset Management LLC now owns 18,830 shares of the financial services provider’s stock worth $134,000 after purchasing an additional 3,650 shares during the last quarter. BlackRock Inc. boosted its holdings in GWG by 20,940.5% during the second quarter. BlackRock Inc. now owns 100,153 shares of the financial services provider’s stock worth $715,000 after purchasing an additional 99,677 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in GWG by 206.1% during the second quarter. Vanguard Group Inc. now owns 190,176 shares of the financial services provider’s stock worth $1,358,000 after purchasing an additional 128,054 shares during the last quarter. Institutional investors and hedge funds own 1.17% of the company’s stock.

About GWG (NASDAQ:GWGH)

GWG Holdings, Inc operates as a financial services company. It purchases life insurance policies at a discount to the face value from the secondary market and policy holders, and continue to pay the premiums to collect the policy benefits. The company also owns a portfolio of alternative assets; and develops epigenetic technology solutions for the life insurance industry.

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