Abacus Life, Inc. (NASDAQ:ABL - Get Free Report)'s share price reached a new 52-week low on Friday . The stock traded as low as $6.98 and last traded at $7.08, with a volume of 133771 shares trading hands. The stock had previously closed at $7.39.
Wall Street Analyst Weigh In
Several analysts recently issued reports on ABL shares. Northland Securities began coverage on shares of Abacus Life in a report on Thursday, October 24th. They issued an "outperform" rating and a $13.50 price objective on the stock. B. Riley decreased their price objective on shares of Abacus Life from $17.00 to $15.00 and set a "buy" rating on the stock in a report on Tuesday. Northland Capmk upgraded shares of Abacus Life to a "strong-buy" rating in a report on Thursday, October 24th. Finally, Piper Sandler reissued an "overweight" rating and issued a $13.00 target price (up previously from $12.00) on shares of Abacus Life in a research report on Friday, November 8th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $14.30.
View Our Latest Analysis on Abacus Life
Abacus Life Stock Performance
The stock has a market capitalization of $585.99 million, a PE ratio of -38.44 and a beta of 0.13. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.29 and a current ratio of 1.29. The firm's 50 day moving average is $8.03 and its two-hundred day moving average is $9.09.
Abacus Life (NASDAQ:ABL - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.06. The firm had revenue of $28.15 million during the quarter, compared to analyst estimates of $26.08 million. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. During the same period last year, the business posted $0.01 earnings per share. As a group, research analysts predict that Abacus Life, Inc. will post 0.64 earnings per share for the current year.
Insider Buying and Selling
In other news, insider Sean Mcnealy sold 75,800 shares of the business's stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $8.00, for a total transaction of $606,400.00. Following the completion of the sale, the insider now owns 12,361,500 shares in the company, valued at approximately $98,892,000. The trade was a 0.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jay J. Jackson sold 2,031,250 shares of the company's stock in a transaction on 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 transaction, the chief executive officer now owns 10,562,000 shares of the company's stock, valued at $84,496,000. This represents a 16.13 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 36,367 shares of company stock worth $279,626 and have sold 2,263,300 shares worth $18,106,400. Insiders own 79.20% of the company's stock.
Institutional Trading of Abacus Life
Several institutional investors and hedge funds have recently added to or reduced their stakes in ABL. Renaissance Technologies LLC acquired a new stake in Abacus Life in the second quarter valued at about $106,000. Quarry LP purchased a new stake in shares of Abacus Life in the second quarter valued at approximately $318,000. Richard W. Paul & Associates LLC grew its holdings in Abacus Life by 27.8% during the third quarter. Richard W. Paul & Associates LLC now owns 38,902 shares of the company's stock worth $394,000 after acquiring an additional 8,454 shares during the period. Sei Investments Co. purchased a new position in Abacus Life in the second quarter worth $418,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in Abacus Life in the third quarter valued at $614,000.
About Abacus Life
(
Get Free Report)
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.
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