Abacus Life, Inc. (NASDAQ:ABL - Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $5.68, but opened at $6.09. Abacus Life shares last traded at $5.79, with a volume of 378,195 shares changing hands.
Analyst Ratings Changes
Several brokerages recently issued reports on ABL. Piper Sandler boosted their price objective on shares of Abacus Life from $11.50 to $12.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Maxim Group assumed coverage on shares of Abacus Life in a research report on Tuesday, April 29th. They set a "buy" rating and a $14.00 price target for the company. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $14.08.
Read Our Latest Stock Report on ABL
Abacus Life Stock Down 0.7%
The firm's 50-day moving average price is $7.66 and its two-hundred day moving average price is $7.61. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.47 and a current ratio of 0.47. The firm has a market cap of $527.83 million, a PE ratio of -23.69 and a beta of 0.11.
Abacus Life (NASDAQ:ABL - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $44.14 million during the quarter, compared to the consensus estimate of $39.51 million. Abacus Life had a positive return on equity of 16.76% and a negative net margin of 13.35%. As a group, equities research analysts expect that Abacus Life, Inc. will post 0.62 EPS for the current fiscal year.
Hedge Funds Weigh In On Abacus Life
Institutional investors have recently bought and sold shares of the company. State of Wyoming acquired a new stake in shares of Abacus Life in the 1st quarter valued at approximately $105,000. Squarepoint Ops LLC acquired a new stake in Abacus Life in the fourth quarter valued at $113,000. JPMorgan Chase & Co. boosted its position in shares of Abacus Life by 640.9% during the 4th quarter. JPMorgan Chase & Co. now owns 16,670 shares of the company's stock worth $131,000 after purchasing an additional 14,420 shares in the last quarter. LPL Financial LLC boosted its position in shares of Abacus Life by 31.0% during the 4th quarter. LPL Financial LLC now owns 23,288 shares of the company's stock worth $182,000 after purchasing an additional 5,507 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Abacus Life during the 4th quarter worth $193,000.
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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