Abacus Life (NASDAQ:ABL) Shares Up 2.8%

Abacus Life, Inc. (NASDAQ:ABL) traded up 2.8% during mid-day trading on Wednesday . The company traded as high as $10.15 and last traded at $10.15. 1,784 shares were traded during trading, a decline of 97% from the average session volume of 54,435 shares. The stock had previously closed at $9.87.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. B. Riley Financial reiterated a “buy” rating and issued a $16.00 target price on shares of Abacus Life in a research note on Friday, August 30th. Piper Sandler began coverage on Abacus Life in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $12.00 price objective on the stock. B. Riley reissued a “buy” rating and set a $16.00 price objective (up from $15.00) on shares of Abacus Life in a report on Thursday, August 29th. Finally, TD Cowen began coverage on Abacus Life in a research note on Wednesday, August 7th. They issued a “buy” rating and a $14.00 target price on the stock. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Abacus Life has an average rating of “Buy” and a consensus target price of $14.50.

Abacus Life Stock Down 4.9 %

The stock’s 50 day moving average is $9.94 and its 200 day moving average is $10.69. The company has a market capitalization of $632.22 million, a PE ratio of 494.50 and a beta of 0.12. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.84 and a current ratio of 1.84.

Abacus Life (NASDAQ:ABL) last posted its earnings results on Monday, August 12th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.05. The firm had revenue of $29.08 million for the quarter, compared to the consensus estimate of $28.57 million. Abacus Life had a positive return on equity of 7.02% and a negative net margin of 6.19%. During the same quarter in the prior year, the business posted $0.13 earnings per share. On average, sell-side analysts anticipate that Abacus Life, Inc. will post 0.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC purchased a new stake in shares of Abacus Life in the second quarter worth about $106,000. Levin Capital Strategies L.P. bought a new stake in Abacus Life during the 2nd quarter worth approximately $130,000. Inscription Capital LLC purchased a new stake in Abacus Life in the 1st quarter worth approximately $137,000. Richard W. Paul & Associates LLC boosted its holdings in Abacus Life by 4.8% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 30,448 shares of the company’s stock valued at $263,000 after purchasing an additional 1,401 shares during the period. Finally, Quarry LP purchased a new position in shares of Abacus Life during the 2nd quarter valued at $318,000.

Abacus Life Company Profile

Abacus Life, Inc operates as an alternative asset manager specializing in life insurance products. It purchases life insurance policies from consumers seeking liquidity and manages policies over time via trading, holding, and/or servicing. The company was founded in 2004 and is based in Orlando, Florida.