Short Interest in Abacus Life, Inc. (NASDAQ:ABL) Declines By 17.8%

Abacus Life, Inc. (NASDAQ:ABL) was the recipient of a significant decrease in short interest during the month of December. As of December 15th, there was short interest totalling 483,200 shares, a decrease of 17.8% from the November 30th total of 587,800 shares. Approximately 2.0% of the company’s shares are sold short. Based on an average trading volume of 180,500 shares, the short-interest ratio is presently 2.7 days.

Wall Street Analyst Weigh In

ABL has been the topic of several recent research reports. B. Riley raised their price objective on Abacus Life from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Northland Capmk raised shares of Abacus Life to a “strong-buy” rating in a report on Thursday, October 24th. Piper Sandler reiterated an “overweight” rating and set a $13.00 price objective (up previously from $12.00) on shares of Abacus Life in a research report on Friday, November 8th. Finally, Northland Securities assumed coverage on Abacus Life in a report on Thursday, October 24th. They set an “outperform” rating and a $13.50 price objective for the company. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Abacus Life has an average rating of “Buy” and a consensus target price of $14.70.

Insider Activity

In other news, insider Matthew Ganovsky sold 156,250 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $8.00, for a total transaction of $1,250,000.00. Following the sale, the insider now owns 10,847,047 shares in the company, valued at $86,776,376. This represents a 1.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jay J. Jackson sold 2,031,250 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $8.00, for a total value of $16,250,000.00. Following the completion of the transaction, the chief executive officer now directly owns 10,562,000 shares of the company’s stock, valued at approximately $84,496,000. This trade represents a 16.13 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 36,367 shares of company stock valued at $279,626 and sold 2,263,300 shares valued at $18,106,400. Insiders own 79.20% of the company’s stock.

Institutional Trading of Abacus Life

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Richard W. Paul & Associates LLC boosted its holdings in shares of Abacus Life by 27.8% in the third quarter. Richard W. Paul & Associates LLC now owns 38,902 shares of the company’s stock valued at $394,000 after acquiring an additional 8,454 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Abacus Life during the 2nd quarter worth approximately $106,000. Curi RMB Capital LLC increased its position in Abacus Life by 2.4% during the third quarter. Curi RMB Capital LLC now owns 550,000 shares of the company’s stock worth $5,566,000 after buying an additional 12,765 shares in the last quarter. Levin Capital Strategies L.P. purchased a new stake in Abacus Life in the 2nd quarter worth approximately $130,000. Finally, Franklin Resources Inc. lifted its stake in shares of Abacus Life by 3.6% during the 3rd quarter. Franklin Resources Inc. now owns 437,733 shares of the company’s stock worth $4,382,000 after purchasing an additional 15,308 shares during the period.

Abacus Life Stock Down 2.1 %

Shares of ABL opened at $7.75 on Friday. The company has a market capitalization of $656.26 million, a price-to-earnings ratio of -43.05 and a beta of 0.13. Abacus Life has a 52 week low of $7.07 and a 52 week high of $13.25. The stock’s 50-day moving average price is $8.25 and its 200-day moving average price is $9.22. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.65.

Abacus Life (NASDAQ:ABL) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.06. The business had revenue of $28.15 million for the quarter, compared to the consensus estimate of $26.08 million. Abacus Life had a negative net margin of 11.65% and a positive return on equity of 12.88%. During the same period last year, the firm posted $0.01 earnings per share. On average, sell-side analysts predict that Abacus Life will post 0.64 EPS for the current year.

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.