Buyers of Structured Settlements
As a structured settlement expert you would expect one to stay up to date on the structured settlement industry. One of the major Buyers of structured Settlements made the news again. Nothing bad per-say this time just some facts that show being a buyer of structured settlements is a profitable business as shown in this article below.
According to Zacks, “The J.G. Wentworth Company is focused on key sectors, including structured settlement payment purchasing, annuity payment purchasing, and lottery payment purchasing and pre-settlement funding. The Company operates two brands, JG Wentworth and Peachtree. It act as an intermediary that identifies, underwrites and purchases individual payment streams from its customers, aggregates those payment streams and then finances them in the institutional market at discount rates below its cost to purchase. The J.G. Wentworth Company, formerly known as JGWPT Holdings Inc., is headquartered in suburban Philadelphia. “
Zacks has also taken action a number of other stocks recently. The firm downgraded shares of Vermillion, Inc. from a buy rating to a hold rating. Also, Zacks upgraded shares of Uranium Resources, Inc. from a sell rating to a hold rating. Finally, Zacks downgraded shares of UniPixel Inc from a hold rating to a sell rating.
Shares of JG Wentworth (NYSE:JGW) traded up 0.67% on Tuesday, hitting $8.97. The stock had a trading volume of 17,709 shares. JG Wentworth has a one year low of $8.65 and a one year high of $13.93. The stock’s 50-day moving average is $9.60 and its 200-day moving average is $9.99. The company has a market cap of $126.13 million and a P/E ratio of 5.87.
JG Wentworth (NYSE:JGW) last released its earnings data on Monday, May 11th. The company reported $0.29 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.35 by $0.06. The company had revenue of $86.80 million for the quarter, compared to the consensus estimate of $63.43 million. Analysts expect that JG Wentworth will post $1.43 EPS for the current fiscal year.
Separately, analysts at Deutsche Bank downgraded shares of JG Wentworth from a buy rating to a hold rating and lowered their price target for the stock from $13.00 to $11.00 in a research note on Friday, May 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. JG Wentworth currently has an average rating of Hold and a consensus price target of $11.68.
In other JG Wentworth news, major shareholder Special Situations M. Trishield purchased 73,000 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was purchased at an average cost of $9.07 per share, with a total value of $662,110.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Special Situations M. Trishield bought 41,225 shares of JG Wentworth stock in a transaction that occurred on Friday, May 22nd. The stock was purchased at an average cost of $9.47 per share, with a total value of $390,400.75. The disclosure for this purchase can be found here.
J.G. Wentworth Company, formerly JGWPT Holdings Inc., is a direct response marketer that provides liquidity to its customers by purchasing structured settlement, annuity and lottery payment streams, as well as interests in the proceeds of legal claims, in the United States. The Company act as an intermediary that identifies, underwrites and purchases individual payment streams from its customers, aggregates those payment streams and then finances them in the institutional market at discount rates below its cost to purchase. The Company operates two brands, JG Wentworth and Peachtree. Its products include structured settlements, annuities, lotteries and pre-settlement funding.
The Law Offices of Eugene Ahtirski provide Independent Professional Advice to sellers of structured settlements and underwriting protection advice to private investors purchasing secondary market annuities.