Abacus Life (NASDAQ:ABL) Sees Unusually-High Trading Volume

Abacus Life, Inc. (NASDAQ:ABL) saw unusually-strong trading volume on Thursday . Approximately 40,936 shares changed hands during trading, a decline of 26% from the previous session’s volume of 55,352 shares.The stock last traded at $10.23 and had previously closed at $10.40.

Wall Street Analyst Weigh In

ABL has been the topic of several research analyst reports. B. Riley Financial restated a “buy” rating and issued a $16.00 price objective on shares of Abacus Life in a research report on Friday, August 30th. B. Riley restated a “buy” rating and set a $16.00 price objective (up previously from $15.00) on shares of Abacus Life in a research report on Thursday, August 29th. TD Cowen assumed coverage on shares of Abacus Life in a research report on Wednesday, August 7th. They issued a “buy” rating and a $14.00 target price for the company. Finally, Piper Sandler initiated coverage on Abacus Life in a research report on Wednesday, June 26th. They set an “overweight” rating and a $12.00 price target on the stock. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $14.50.

Abacus Life Stock Performance

The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.84 and a current ratio of 1.84. The company has a market cap of $653.31 million, a PE ratio of 511.00 and a beta of 0.12. The business’s 50-day moving average is $9.97 and its 200 day moving average is $10.68.

Abacus Life (NASDAQ:ABL) last released its earnings results on Monday, August 12th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.05. The company had revenue of $29.08 million during the quarter, compared to analyst estimates 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 previous year, the company posted $0.13 EPS. On average, equities research analysts predict that Abacus Life, Inc. will post 0.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP bought a new stake in Abacus Life during the 4th quarter valued at $463,000. Inscription Capital LLC bought a new position in shares of Abacus Life during the first quarter valued at about $137,000. Richard W. Paul & Associates LLC boosted its holdings in shares of Abacus Life by 4.8% during the second quarter. Richard W. Paul & Associates LLC now owns 30,448 shares of the company’s stock worth $263,000 after purchasing an additional 1,401 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Abacus Life in the second quarter worth about $9,909,000. Finally, Principal Financial Group Inc. purchased a new position in Abacus Life during the 2nd quarter valued at about $8,105,000.

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.