Abacus Life, Inc. (NASDAQ:ABL - Get Free Report) shares saw an uptick in trading volume on Monday . 89,973 shares changed hands during trading, an increase of 2% from the previous session's volume of 87,845 shares.The stock last traded at $7.95 and had previously closed at $7.90.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on ABL shares. B. Riley raised their price objective on Abacus Life from $16.00 to $17.00 and gave the company a "buy" rating in a report on Monday, November 25th. Northland Capmk upgraded Abacus Life to a "strong-buy" rating in a report on Thursday, October 24th. 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 for the company. Finally, Piper Sandler reissued an "overweight" rating and set a $13.00 target price (up from $12.00) on shares of Abacus Life in a report on Friday, November 8th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $14.70.
Read Our Latest Stock Report on Abacus Life
Abacus Life Price Performance
The firm has a market capitalization of $653.72 million, a P/E ratio of -42.89 and a beta of 0.14. The company has a fifty day moving average of $8.10 and a 200 day moving average of $9.12. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.29.
Abacus Life (NASDAQ:ABL - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.06. The company had revenue of $28.15 million during the quarter, compared to analysts' expectations of $26.08 million. Abacus Life had a negative net margin of 11.65% and a positive return on equity of 12.88%. During the same period in the prior year, the company posted $0.01 earnings per share. Sell-side analysts predict that Abacus Life, Inc. will post 0.64 earnings per share for the current year.
Insider Transactions at Abacus Life
In other news, insider Matthew Ganovsky sold 156,250 shares of the firm's stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $8.00, for a total transaction of $1,250,000.00. Following the completion of the sale, the insider now owns 10,847,047 shares of the company's stock, valued at $86,776,376. This trade represents a 1.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Adam Samuel Gusky bought 6,000 shares of the company's stock in a transaction that occurred on Monday, December 9th. The shares were bought at an average price of $7.94 per share, for a total transaction of $47,640.00. Following the transaction, the director now directly owns 49,085 shares in the company, valued at $389,734.90. This trade represents a 13.93 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 36,367 shares of company stock valued at $279,626 and sold 2,263,300 shares valued at $18,106,400. Corporate insiders own 79.20% of the company's stock.
Institutional Trading of Abacus Life
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ABL. Principal Financial Group Inc. acquired a new stake in Abacus Life in the 2nd quarter valued at $8,105,000. Levin Capital Strategies L.P. acquired a new position in shares of Abacus Life during the second quarter valued at about $130,000. Renaissance Technologies LLC bought a new stake in shares of Abacus Life during the second quarter worth about $106,000. Sei Investments Co. acquired a new stake in shares of Abacus Life in the 2nd quarter worth about $418,000. Finally, Quarry LP acquired a new stake in shares of Abacus Life in the 2nd quarter worth about $318,000.
Abacus Life Company Profile
(
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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