Abacus Life (NASDAQ:ABL) Stock Price Down 7.1% - Should You Sell?

Abacus Life, Inc. (NASDAQ:ABL - Get Free Report)'s stock price was down 7.1% during trading on Tuesday . The stock traded as low as $5.68 and last traded at $5.64. Approximately 444,874 shares traded hands during mid-day trading, an increase of 39% from the average daily volume of 319,091 shares. The stock had previously closed at $6.07.

Wall Street Analyst Weigh In

ABL has been the topic of a number of recent research reports. Piper Sandler upped their price objective on Abacus Life from $11.50 to $12.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Maxim Group assumed coverage on Abacus Life in a research report on Tuesday, April 29th. They issued a "buy" rating and a $14.00 price target on the stock. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Abacus Life currently has a consensus rating of "Buy" and an average price target of $14.08.

Abacus Life Trading Down 3.3%

The company has a debt-to-equity ratio of 0.55, a current ratio of 0.47 and a quick ratio of 0.47. The business's 50 day moving average is $7.66 and its 200 day moving average is $7.61. The stock has a market cap of $531.71 million, a price-to-earnings ratio of -23.87 and a beta of 0.11.

Abacus Life (NASDAQ:ABL - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. Abacus Life had a positive return on equity of 16.76% and a negative net margin of 13.35%. The business had revenue of $44.14 million during the quarter, compared to analysts' expectations of $39.51 million. As a group, equities analysts expect that Abacus Life, Inc. will post 0.62 earnings per share for the current fiscal year.

Institutional Trading of Abacus Life

Several institutional investors have recently modified their holdings of ABL. Richard W. Paul & Associates LLC raised its stake in Abacus Life by 7.5% during the 4th quarter. Richard W. Paul & Associates LLC now owns 41,836 shares of the company's stock worth $328,000 after acquiring an additional 2,934 shares in the last quarter. Royce & Associates LP grew its holdings in shares of Abacus Life by 339.9% during the fourth quarter. Royce & Associates LP now owns 1,306,431 shares of the company's stock worth $10,229,000 after purchasing an additional 1,009,431 shares during the last quarter. Sei Investments Co. increased its position in shares of Abacus Life by 38.8% during the fourth quarter. Sei Investments Co. now owns 81,525 shares of the company's stock worth $638,000 after purchasing an additional 22,783 shares in the last quarter. LPL Financial LLC lifted its holdings in shares of 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 purchasing an additional 5,507 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of 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 purchasing an additional 14,420 shares during the period.

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.