Abacus Life, Inc. (NASDAQ:ABL) Short Interest Update

Abacus Life, Inc. (NASDAQ:ABL - Get Free Report) saw a significant increase in short interest during the month of May. As of May 15th, there was short interest totalling 1,440,000 shares, an increase of 19.0% from the April 30th total of 1,210,000 shares. Currently, 4.2% of the shares of the stock are sold short. Based on an average trading volume of 371,700 shares, the days-to-cover ratio is presently 3.9 days.

Abacus Life Stock Performance

Shares of Abacus Life stock traded down $0.28 during trading on Thursday, hitting $5.72. 1,996,765 shares of the stock were exchanged, compared to its average volume of 262,185. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.29 and a current ratio of 1.29. Abacus Life has a 12 month low of $5.10 and a 12 month high of $12.39. The stock's fifty day moving average is $7.98 and its 200 day moving average is $7.80. The stock has a market cap of $554.00 million, a PE ratio of -31.78 and a beta of 0.14.

Abacus Life (NASDAQ:ABL - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.02. The firm had revenue of $44.14 million during the quarter, compared to analyst estimates of $39.51 million. Abacus Life had a negative net margin of 11.65% and a positive return on equity of 12.88%. As a group, sell-side analysts anticipate that Abacus Life will post 0.62 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on ABL. Piper Sandler increased their price objective on Abacus Life from $11.50 to $12.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Maxim Group assumed coverage on Abacus Life in a research note on Tuesday, April 29th. They set a "buy" rating and a $14.00 price target on the stock. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $14.08.

Institutional Trading of Abacus Life

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mendon Capital Advisors Corp grew its position in Abacus Life by 9.1% in the first quarter. Mendon Capital Advisors Corp now owns 1,422,171 shares of the company's stock worth $10,652,000 after buying an additional 118,345 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Abacus Life by 13.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,928,293 shares of the company's stock valued at $14,443,000 after purchasing an additional 221,712 shares during the last quarter. Curi RMB Capital LLC boosted its position in shares of Abacus Life by 10.0% in the 1st quarter. Curi RMB Capital LLC now owns 1,275,000 shares of the company's stock valued at $9,550,000 after purchasing an additional 116,000 shares during the period. AWM Investment Company Inc. raised its holdings in Abacus Life by 9.2% during the 1st quarter. AWM Investment Company Inc. now owns 680,536 shares of the company's stock worth $5,097,000 after buying an additional 57,524 shares during the period. Finally, State of Wyoming purchased a new stake in Abacus Life during the first quarter valued at about $105,000.

Abacus Life Company Profile

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.