Abacus Life (NASDAQ:ABL) Shares Up 5.2% - What's Next?

Abacus Life, Inc. (NASDAQ:ABL - Get Free Report) shares were up 5.2% during trading on Thursday . The company traded as high as $8.00 and last traded at $7.93. Approximately 14,804 shares traded hands during trading, a decline of 84% from the average daily volume of 93,966 shares. The stock had previously closed at $7.54.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Piper Sandler restated an "overweight" rating and issued a $13.00 target price (up previously from $12.00) on shares of Abacus Life in a research note on Friday, November 8th. Northland Securities assumed coverage on 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 raised their price objective on shares of Abacus Life from $16.00 to $17.00 and gave the company a "buy" rating in a research report on Monday, November 25th. B. Riley Financial reissued a "buy" rating and issued a $16.00 target price on shares of Abacus Life in a research report on Friday, August 30th. Finally, Northland Capmk upgraded shares of Abacus Life to a "strong-buy" rating in a report on Thursday, October 24th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Abacus Life presently has a consensus rating of "Buy" and a consensus price target of $14.70.

Abacus Life Stock Up 5.0 %

The firm has a market capitalization of $670.66 million, a price-to-earnings ratio of -44.00 and a beta of 0.13. The business has a 50 day moving average of $8.32 and a 200 day moving average of $9.26. 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 issued its earnings results on Thursday, November 7th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.06. Abacus Life had a negative net margin of 11.65% and a positive return on equity of 12.88%. The business had revenue of $28.15 million for the quarter, compared to analyst estimates of $26.08 million. During the same period in the previous year, the business earned $0.01 EPS. On average, equities analysts anticipate that Abacus Life, Inc. will post 0.64 EPS for the current year.

Insider Transactions at Abacus Life

In related news, insider Sean Mcnealy sold 75,800 shares of the firm's stock in a transaction on Friday, December 20th. The stock was 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 directly owns 12,361,500 shares of the company's stock, valued at $98,892,000. This trade represents a 0.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Adam Samuel Gusky bought 6,000 shares of the firm's stock in a transaction dated Monday, December 9th. The shares were acquired at an average price of $7.94 per share, for a total transaction of $47,640.00. Following the acquisition, the director now directly owns 49,085 shares of the company's stock, valued at approximately $389,734.90. The trade was a 13.93 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 36,367 shares of company stock valued at $279,626 and have sold 2,263,300 shares valued at $18,106,400. 79.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ABL. Renaissance Technologies LLC acquired a new position in Abacus Life during the 2nd quarter valued at about $106,000. Levin Capital Strategies L.P. acquired a new position in Abacus Life in the second quarter valued at approximately $130,000. Quarry LP bought a new position in 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 3rd 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. Finally, Sei Investments Co. bought a new stake in shares of Abacus Life during the 2nd quarter valued at $418,000.

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.