Short Interest in Abacus Life, Inc. (NASDAQ:ABL) Rises By 37.9%

Abacus Life, Inc. (NASDAQ:ABL - Get Free Report) saw a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 686,900 shares, an increase of 37.9% from the December 31st total of 498,000 shares. Based on an average daily trading volume, of 224,500 shares, the days-to-cover ratio is presently 3.1 days. Approximately 2.1% of the company's stock are short sold.

Abacus Life Trading Down 0.8 %

Shares of ABL traded down $0.07 during trading hours on Friday, hitting $7.83. The stock had a trading volume of 125,658 shares, compared to its average volume of 203,864. The company's fifty day simple moving average is $7.72 and its 200 day simple moving average is $8.97. The firm has a market cap of $756.21 million, a P/E ratio of -43.44 and a beta of 0.14. Abacus Life has a 12-month low of $6.75 and a 12-month high of $13.25. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.29 and a current ratio of 1.29.

Abacus Life (NASDAQ:ABL - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.14 by $0.06. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. The firm had revenue of $28.15 million for the quarter, compared to analyst estimates of $26.08 million. During the same period in the previous year, the company posted $0.01 EPS. Equities research analysts forecast that Abacus Life will post 0.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ABL shares. Piper Sandler reiterated an "overweight" rating and issued a $13.00 price target (up previously from $12.00) on shares of Abacus Life in a research report on Friday, November 8th. B. Riley lowered their price objective on Abacus Life from $17.00 to $15.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th. Northland Capmk raised Abacus Life to a "strong-buy" rating in a report on Thursday, October 24th. Finally, Northland Securities began coverage on Abacus Life in a report on Thursday, October 24th. They issued an "outperform" rating and a $13.50 price target on the stock. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $14.30.

Insider Buying and Selling at Abacus Life

In related news, CEO Jay J. Jackson sold 2,031,250 shares of the firm's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $8.00, for a total transaction of $16,250,000.00. Following the completion of the sale, the chief executive officer now directly owns 10,562,000 shares in the company, valued at approximately $84,496,000. This trade represents a 16.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sean Mcnealy sold 75,800 shares of Abacus Life stock in a transaction on Friday, December 20th. The shares were sold at an average price of $8.00, for a total value of $606,400.00. Following the completion of the sale, the insider now owns 12,361,500 shares in the company, valued at $98,892,000. This represents a 0.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 36,367 shares of company stock worth $279,626 and sold 2,263,300 shares worth $18,106,400. 79.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Abacus Life

Institutional investors and hedge funds have recently made changes to their positions in the business. Clearbridge Investments LLC acquired a new position in Abacus Life in the second quarter worth about $4,342,000. Stieven Capital Advisors L.P. raised its position in shares of Abacus Life by 128.2% during the 4th quarter. Stieven Capital Advisors L.P. now owns 741,810 shares of the company's stock valued at $5,808,000 after acquiring an additional 416,800 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Abacus Life by 23.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,399,204 shares of the company's stock worth $10,830,000 after purchasing an additional 263,036 shares during the last quarter. Geode Capital Management LLC increased its stake in Abacus Life by 439.6% during the third quarter. Geode Capital Management LLC now owns 171,917 shares of the company's stock valued at $1,741,000 after purchasing an additional 140,054 shares during the last quarter. Finally, Royce & Associates LP raised its holdings in shares of Abacus Life by 35.0% during the third quarter. Royce & Associates LP now owns 297,000 shares of the company's stock worth $3,006,000 after purchasing an additional 77,000 shares during the period.

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.