Abacus Life (NASDAQ:ABL) Stock Price Down 4.9% - What's Next?

Abacus Life, Inc. (NASDAQ:ABL - Get Free Report) traded down 4.9% during mid-day trading on Tuesday . The company traded as low as $9.07 and last traded at $9.07. 2,709 shares changed hands during trading, a decline of 96% from the average session volume of 64,506 shares. The stock had previously closed at $9.54.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ABL. B. Riley Financial restated a "buy" rating and set a $16.00 price objective on shares of Abacus Life in a research report on Friday, August 30th. B. Riley reiterated a "buy" rating and issued a $16.00 price target (up previously from $15.00) on shares of Abacus Life in a report on Thursday, August 29th. TD Cowen initiated coverage on Abacus Life in a research report on Wednesday, August 7th. They set a "buy" rating and a $14.00 price objective on the stock. Finally, Piper Sandler assumed coverage on shares of Abacus Life in a research report on Wednesday, June 26th. They set an "overweight" rating and a $12.00 target price on the stock. Four research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $14.50.

Abacus Life Trading Down 8.8 %

The company has a debt-to-equity ratio of 0.59, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a market cap of $556.15 million, a price-to-earnings ratio of 453.00 and a beta of 0.12. The business's 50-day moving average price is $10.07 and its two-hundred day moving average price is $10.36.

Abacus Life (NASDAQ:ABL - Get Free Report) last released its quarterly earnings results on Monday, August 12th. The company reported $0.18 earnings per share for the quarter, topping analysts' consensus estimates of $0.13 by $0.05. The firm had revenue of $29.08 million during the quarter, compared to analysts' expectations of $28.57 million. Abacus Life had a positive return on equity of 7.02% and a negative net margin of 6.19%. During the same quarter in the prior year, the business earned $0.13 EPS. Equities analysts expect that Abacus Life, Inc. will post 0.57 earnings per share for the current year.

Hedge Funds Weigh In On Abacus Life

Several hedge funds have recently made changes to their positions in ABL. Richard W. Paul & Associates LLC raised its holdings in Abacus Life by 4.8% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 30,448 shares of the company's stock worth $263,000 after acquiring an additional 1,401 shares during the period. Renaissance Technologies LLC acquired a new stake in Abacus Life in the second quarter worth about $106,000. Levin Capital Strategies L.P. bought a new stake in shares of Abacus Life in the 2nd quarter valued at about $130,000. Quarry LP acquired a new position in Abacus Life in the second quarter valued at about $318,000. Finally, Sei Investments Co. bought a new stake in shares of Abacus Life during the second quarter worth $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.