Abacus Life, Inc. (NASDAQ:ABL - Get Free Report) saw strong trading volume on Monday . 87,392 shares traded hands during mid-day trading, a decline of 39% from the previous session's volume of 142,497 shares.The stock last traded at $7.30 and had previously closed at $7.62.
Analyst Upgrades and Downgrades
Separately, B. Riley lowered their price target on shares of Abacus Life from $17.00 to $15.00 and set a "buy" rating for the company in a report on Tuesday, January 7th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Abacus Life has a consensus rating of "Buy" and a consensus price target of $14.30.
Check Out Our Latest Analysis on ABL
Abacus Life Stock Performance
The stock has a market capitalization of $684.25 million, a PE ratio of -39.33 and a beta of 0.14. The business's 50 day moving average is $7.62 and its 200 day moving average is $8.23. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.65.
Abacus Life (NASDAQ:ABL - Get Free Report) last released its earnings results on Thursday, March 27th. The company reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.13 by $0.03. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. The firm had revenue of $33.21 million for the quarter, compared to analysts' expectations of $28.76 million. On average, equities research analysts predict that Abacus Life, Inc. will post 0.62 earnings per share for the current fiscal year.
Institutional Trading of Abacus Life
Several institutional investors and hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. purchased a new position in Abacus Life in the 3rd quarter worth about $614,000. Geode Capital Management LLC increased its position in shares of 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 acquiring an additional 140,054 shares during the period. Franklin Resources Inc. raised its stake in shares of Abacus Life by 3.6% during the third quarter. Franklin Resources Inc. now owns 437,733 shares of the company's stock valued at $4,382,000 after acquiring an additional 15,308 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Abacus Life by 7.9% in the third quarter. Principal Financial Group Inc. now owns 1,011,143 shares of the company's stock valued at $10,233,000 after purchasing an additional 74,172 shares during the period. Finally, Geneos Wealth Management Inc. bought a new position in Abacus Life in the fourth quarter worth approximately $110,000.
Abacus Life Company Profile
(
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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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