Abacus Life, Inc. (NASDAQ:ABL) Short Interest Down 34.1% in February

Abacus Life, Inc. (NASDAQ:ABL - Get Free Report) was the target of a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 496,500 shares, a drop of 34.1% from the February 13th total of 752,900 shares. Based on an average daily volume of 216,400 shares, the short-interest ratio is presently 2.3 days. Currently, 1.4% of the company's stock are sold short.

Analyst Ratings Changes

Separately, B. Riley dropped their price objective on shares of Abacus Life from $17.00 to $15.00 and set a "buy" rating on the stock in a research note on Tuesday, January 7th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $14.30.

Abacus Life Stock Performance

Shares of NASDAQ:ABL traded up $0.25 during trading hours on Tuesday, hitting $7.85. The stock had a trading volume of 200,519 shares, compared to its average volume of 130,245. The stock's fifty day simple moving average is $7.59 and its 200 day simple moving average is $8.43. Abacus Life has a 1-year low of $6.75 and a 1-year high of $12.65. The firm has a market capitalization of $758.66 million, a price-to-earnings ratio of -43.61 and a beta of 0.14. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.29 and a current ratio of 1.29.

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Insider Transactions at Abacus Life

In related news, insider Sean Mcnealy sold 75,800 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $8.00, for a total transaction of $606,400.00. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 79.20% of the company's stock.

Institutional Investors Weigh In On Abacus Life

Several large investors have recently made changes to their positions in ABL. Richard W. Paul & Associates LLC increased its stake in shares of Abacus Life by 7.5% during the fourth quarter. Richard W. Paul & Associates LLC now owns 41,836 shares of the company's stock valued at $328,000 after acquiring an additional 2,934 shares during the period. Bank of America Corp DE increased its stake in shares of Abacus Life by 2.6% during the fourth quarter. Bank of America Corp DE now owns 161,458 shares of the company's stock valued at $1,264,000 after acquiring an additional 4,162 shares during the period. Geode Capital Management LLC increased its stake in shares of Abacus Life by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 177,227 shares of the company's stock valued at $1,389,000 after acquiring an additional 5,310 shares during the period. LPL Financial LLC increased its stake in shares of Abacus Life by 31.0% during the fourth quarter. LPL Financial LLC now owns 23,288 shares of the company's stock valued at $182,000 after acquiring an additional 5,507 shares during the period. Finally, Point72 Asset Management L.P. increased its stake in shares of Abacus Life by 2.5% during the fourth quarter. Point72 Asset Management L.P. now owns 323,432 shares of the company's stock valued at $2,532,000 after acquiring an additional 7,838 shares during the period.

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.