Abacus Life, Inc. (NASDAQ:ABL - Get Free Report) shares saw strong trading volume on Thursday . 496,159 shares changed hands during trading, an increase of 67% from the previous session's volume of 297,502 shares.The stock last traded at $6.06 and had previously closed at $6.13.
Wall Street Analyst Weigh In
ABL has been the topic of a number of research analyst reports. Maxim Group began coverage on shares of Abacus Life in a research report on Tuesday, April 29th. They set a "buy" rating and a $14.00 price objective on the stock. Piper Sandler lifted their target price on shares of Abacus Life from $11.50 to $12.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $14.08.
Get Our Latest Stock Report on Abacus Life
Abacus Life Stock Up 3.8%
The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market capitalization of $586.93 million, a P/E ratio of -33.66 and a beta of 0.11. The company's 50-day simple moving average is $7.80 and its two-hundred day simple moving average is $7.69.
Abacus Life (NASDAQ:ABL - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.02. Abacus Life had a negative net margin of 11.65% and a positive return on equity of 12.88%. The company had revenue of $44.14 million during the quarter, compared to analysts' expectations of $39.51 million. As a group, research analysts expect that Abacus Life, Inc. will post 0.62 earnings per share for the current year.
Institutional Trading of Abacus Life
A number of large investors have recently modified their holdings of ABL. State of Wyoming acquired a new position in shares of Abacus Life during the first quarter worth $105,000. Squarepoint Ops LLC purchased a new position in Abacus Life in the 4th quarter valued at about $113,000. JPMorgan Chase & Co. raised its holdings in Abacus Life by 640.9% in the 4th quarter. JPMorgan Chase & Co. now owns 16,670 shares of the company's stock valued at $131,000 after acquiring an additional 14,420 shares during the last quarter. LPL Financial LLC raised its holdings in Abacus Life by 31.0% in the 4th quarter. LPL Financial LLC now owns 23,288 shares of the company's stock valued at $182,000 after acquiring an additional 5,507 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Abacus Life during the 4th quarter worth approximately $193,000.
About Abacus Life
(
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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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