Abacus Life, Inc. (NASDAQ:ABL - Get Free Report) shot up 4.3% on Tuesday . The company traded as high as $8.22 and last traded at $7.93. 113,464 shares were traded during mid-day trading, a decline of 46% from the average session volume of 210,771 shares. The stock had previously closed at $7.60.
Wall Street Analyst Weigh In
Separately, B. Riley dropped their target price on shares of Abacus Life from $17.00 to $15.00 and set a "buy" rating for the company in a research note on Tuesday, January 7th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $14.30.
View Our Latest Stock Report on ABL
Abacus Life Stock Performance
The firm's 50-day moving average price is $7.62 and its 200 day moving average price is $8.39. 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 company has a market cap of $738.37 million, a price-to-earnings ratio of -42.44 and a beta of 0.14.
Institutional Investors Weigh In On Abacus Life
Several institutional investors have recently modified their holdings of ABL. Alyeska Investment Group L.P. grew its position in shares of Abacus Life by 116.5% during the 4th quarter. Alyeska Investment Group L.P. now owns 2,540,790 shares of the company's stock worth $19,894,000 after buying an additional 1,367,210 shares during the period. Royce & Associates LP increased its stake in Abacus Life by 339.9% in the fourth quarter. Royce & Associates LP now owns 1,306,431 shares of the company's stock valued at $10,229,000 after purchasing an additional 1,009,431 shares in the last quarter. Kennedy Capital Management LLC bought a new stake in Abacus Life in the fourth quarter valued at approximately $7,461,000. Monashee Investment Management LLC bought a new stake in Abacus Life in the fourth quarter valued at approximately $6,342,000. Finally, Mendon Capital Advisors Corp increased its stake in Abacus Life by 137.1% in the fourth quarter. Mendon Capital Advisors Corp now owns 1,303,826 shares of the company's stock valued at $10,209,000 after purchasing an additional 753,826 shares in the last quarter.
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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