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

Abacus Life, Inc. (NASDAQ:ABL - Get Free Report) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 641,700 shares, an increase of 33.0% from the March 15th total of 482,300 shares. Based on an average daily trading volume, of 262,400 shares, the days-to-cover ratio is presently 2.4 days. Approximately 1.9% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Several analysts have issued reports on ABL shares. B. Riley dropped their price objective on Abacus Life from $17.00 to $15.00 and set a "buy" rating on the stock in a research note on Tuesday, January 7th. Piper Sandler dropped their price target on Abacus Life from $13.00 to $11.50 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $14.00.

Abacus Life Stock Performance

Shares of Abacus Life stock traded down $0.01 on Thursday, hitting $8.29. The stock had a trading volume of 279,383 shares, compared to its average volume of 174,833. The stock has a market cap of $802.91 million, a price-to-earnings ratio of -46.11 and a beta of 0.16. 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 has a twelve month low of $6.34 and a twelve month high of $12.45. The business's 50 day moving average is $7.56 and its two-hundred day moving average is $7.97.

Abacus Life (NASDAQ:ABL - Get Free Report) last issued its quarterly earnings data on Thursday, March 27th. The company reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.13 by $0.03. The firm had revenue of $33.21 million for the quarter, compared to analyst estimates of $28.76 million. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. Analysts forecast that Abacus Life will post 0.62 EPS for the current year.

Institutional Trading of Abacus Life

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its position in Abacus Life by 439.6% during the third quarter. Geode Capital Management LLC now owns 171,917 shares of the company's stock worth $1,741,000 after buying an additional 140,054 shares in the last quarter. Franklin Resources Inc. lifted its position in Abacus Life by 3.6% during the third 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. Principal Financial Group Inc. grew its stake in Abacus Life by 7.9% during the third quarter. Principal Financial Group Inc. now owns 1,011,143 shares of the company's stock worth $10,233,000 after buying an additional 74,172 shares in the last quarter. Geneos Wealth Management Inc. bought a new position in Abacus Life in the 4th quarter valued at about $110,000. Finally, Evernest Financial Advisors LLC raised its position in shares of Abacus Life by 63.8% in the 4th quarter. Evernest Financial Advisors LLC now owns 110,250 shares of the company's stock valued at $863,000 after buying an additional 42,950 shares in the last quarter.

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.