Maxim Group Sticks to Its Buy Rating for GWG Holdings

In a report released today, Michael Diana from Maxim Group reiterated a Buy rating on GWG Holdings (NASDAQ: GWGH), with a price target of $14. The company’s shares opened today at $8.

Diana observed:

“GWGH’s transaction with Group, LP (private), which was scheduled to close in April, is now expected to close in June. This transaction should greatly increase GWGH’s GAAP equity, double its assets, and diversify its business and earnings from being a pure-play on the alternative asset class of life insurance settlements (and on insurtech), to being a company that has investments in many other alternative asset classes..”

According to TipRanks.com, Diana is a 5-star analyst with an average return of 7.5% and a 65.0% success rate. Diana covers the Financial sector, focusing on stocks such as Manhattan Bridge Capital Inc, Arlington Asset Investment, and Westamerica Bancorporation.

GWG Holdings has an analyst consensus of Moderate Buy, with a price target consensus of $14.

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The company has a one-year high of $10.95 and a one-year low of $7.37. Currently, GWG Holdings has an average volume of 2,613.

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GWG Holdings, Inc. is a financial services company, which transforms the life insurance industry through disruptive and innovative products and services. The company is founded to earn non-correlated returns from life insurance assets and create opportunities for consumers to obtain significantly more value for their life insurance policies in a secondary market compared to the traditional options offered by the insurance industry. It is extending its business in the life insurance industry through the application of advanced epigenetic technology. The company was founded by Jon R. Sabes, Paul A. Siegert, and Steven F. Sabes in February 2006 and is headquartered in Minneapolis, MN.