Alyeska Investment Group L.P. Reduces Stake in Midwest Holding Inc. (NASDAQ:MDWT)

Alyeska Investment Group L.P. lowered its stake in Midwest Holding Inc. (NASDAQ:MDWT) by 21.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,841 shares of the company’s stock after selling 25,000 shares during the period. Alyeska Investment Group L.P.’s holdings in Midwest were worth $4,491,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MDWT. Interval Partners LP purchased a new position in Midwest in the fourth quarter worth about $1,132,000. Hudson Bay Capital Management LP purchased a new position in Midwest in the fourth quarter worth about $1,073,000. Gradient Investments LLC purchased a new position in Midwest in the first quarter worth about $3,333,000. Emerald Mutual Fund Advisers Trust lifted its stake in Midwest by 2.3% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 54,234 shares of the company’s stock worth $2,711,000 after purchasing an additional 1,200 shares during the last quarter. Finally, American International Group Inc. bought a new stake in Midwest in the first quarter worth about $28,000. Institutional investors own 27.89% of the company’s stock.

Shares of NASDAQ MDWT opened at $38.51 on Thursday. Midwest Holding Inc. has a 1 year low of $35.00 and a 1 year high of $126.00. The stock has a 50-day moving average price of $40.65.

Midwest (NASDAQ:MDWT) last announced its quarterly earnings data on Thursday, May 13th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.54). The business had revenue of $6.43 million for the quarter, compared to analyst estimates of $8.20 million. On average, equities analysts forecast that Midwest Holding Inc. will post 2.3 EPS for the current year.

Separately, Piper Sandler decreased their price objective on shares of Midwest from $76.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, July 8th. They noted that the move was a valuation call.

Midwest Profile

Midwest Holding Inc, a financial services holding company, engages in underwriting and marketing life insurance products in the United States. The company offers multi-year guaranteed and fixed indexed annuity products. It also provides investment advisory and related asset management services to third-party insurers and reinsurers; and a cloud-based policy administration solution for annuity and life insurance products.

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Institutional Ownership by Quarter for Midwest (NASDAQ:MDWT)

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