GWG Holdings Inc (NASDAQ:GWGH) Short Interest Up 42.6% in September

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GWG Holdings Inc (NASDAQ:GWGH) was the recipient of a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 95,400 shares, an increase of 42.6% from the September 15th total of 66,900 shares. Based on an average daily volume of 9,900 shares, the days-to-cover ratio is currently 9.6 days. Approximately 3.0% of the company’s shares are sold short.

GWGH traded down $0.02 during trading hours on Friday, reaching $9.05. 10,076 shares of the company’s stock traded hands, compared to its average volume of 9,865. The firm has a 50-day moving average price of $8.75 and a 200 day moving average price of $8.15. GWG has a 52-week low of $6.50 and a 52-week high of $10.70. The company has a quick ratio of 10.98, a current ratio of 10.98 and a debt-to-equity ratio of 4.52. The firm has a market capitalization of $299.51 million, a PE ratio of 5.66 and a beta of -0.25.

GWG (NASDAQ:GWGH) last posted its quarterly earnings data on Monday, August 17th. The financial services provider reported ($0.59) earnings per share (EPS) for the quarter. GWG had a net margin of 35.84% and a negative return on equity of 39.91%. The business had revenue of $68.79 million for the quarter.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN increased its stake in shares of GWG by 1,603.0% during the first quarter. Wells Fargo & Company MN now owns 5,092 shares of the financial services provider’s stock valued at $52,000 after buying an additional 4,793 shares during the period. Morgan Stanley increased its position in GWG by 150.4% during the 1st quarter. Morgan Stanley now owns 6,032 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 3,623 shares during the period. Ausdal Financial Partners Inc. increased its position in GWG by 29.1% during the 2nd quarter. Ausdal Financial Partners Inc. now owns 13,300 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 3,000 shares during the period. Moloney Securities Asset Management LLC increased its position in GWG by 15.8% during the 2nd quarter. Moloney Securities Asset Management LLC now owns 27,800 shares of the financial services provider’s stock valued at $213,000 after purchasing an additional 3,803 shares during the period. Finally, State Street Corp increased its position in GWG by 58.0% during the 1st quarter. State Street Corp now owns 35,642 shares of the financial services provider’s stock valued at $362,000 after purchasing an additional 13,079 shares during the period. 4.91% of the stock is currently owned by institutional investors and hedge funds.

Separately, BidaskClub cut GWG from a “sell” rating to a “strong sell” rating in a report on Friday, September 18th.

GWG Company Profile

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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