Abacus Life, Inc. (NASDAQ:ABL) Short Interest Update

Abacus Life, Inc. (NASDAQ:ABL) was the recipient of a large decline in short interest in the month of October. As of October 15th, there was short interest totalling 671,700 shares, a decline of 24.1% from the September 30th total of 884,800 shares. Currently, 5.3% of the shares of the company are sold short. Based on an average daily volume of 89,000 shares, the short-interest ratio is currently 7.5 days.

Institutional Trading of Abacus Life

Hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC purchased a new stake in shares of Abacus Life in the second quarter worth approximately $106,000. Levin Capital Strategies L.P. acquired a new stake in shares of Abacus Life during the 2nd quarter valued at $130,000. Richard W. Paul & Associates LLC grew its holdings in shares of Abacus Life by 4.8% during the 2nd quarter. Richard W. Paul & Associates LLC now owns 30,448 shares of the company’s stock valued at $263,000 after acquiring an additional 1,401 shares in the last quarter. Quarry LP acquired a new position in shares of Abacus Life in the second quarter worth $318,000. Finally, Sei Investments Co. purchased a new stake in shares of Abacus Life during the second quarter worth $418,000.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ABL shares. TD Cowen assumed coverage on Abacus Life in a report on Wednesday, August 7th. They issued a “buy” rating and a $14.00 price objective for the company. Northland Capmk raised Abacus Life to a “strong-buy” rating in a report on Thursday. Northland Securities initiated coverage on shares of Abacus Life in a report on Thursday. They issued an “outperform” rating and a $13.50 price objective for the company. B. Riley Financial reissued a “buy” rating and set a $16.00 target price on shares of Abacus Life in a research note on Friday, August 30th. Finally, B. Riley restated a “buy” rating and set a $16.00 price target (up from $15.00) on shares of Abacus Life in a research report on Thursday, August 29th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Abacus Life presently has a consensus rating of “Buy” and an average target price of $14.30.

Abacus Life Trading Down 0.8 %

Shares of ABL stock opened at $9.03 on Monday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.59. The stock has a 50-day simple moving average of $9.94 and a 200 day simple moving average of $10.28. Abacus Life has a fifty-two week low of $5.75 and a fifty-two week high of $13.25. The stock has a market capitalization of $674.09 million, a P/E ratio of -90.29 and a beta of 0.12.

Abacus Life (NASDAQ:ABL) last released its quarterly 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. Abacus Life had a positive return on equity of 7.02% and a negative net margin of 6.19%. The business had revenue of $29.08 million during the quarter, compared to analyst estimates of $28.57 million. During the same quarter last year, the company posted $0.13 EPS. On average, sell-side analysts expect that Abacus Life will post 0.57 earnings per share for the current fiscal year.

About Abacus Life

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.