Abacus Life, Inc. (NASDAQ:ABL - Get Free Report) was up 4.8% on Monday . The company traded as high as $5.68 and last traded at $5.65. 72,174 shares were traded during trading, a decline of 80% from the average daily volume of 365,020 shares. The stock had previously closed at $5.39.
Analyst Ratings Changes
A number of analysts have recently weighed in on the stock. Maxim Group initiated coverage on shares of Abacus Life in a report on Tuesday, April 29th. They issued a "buy" rating and a $14.00 price target on the stock. Piper Sandler dropped their target price on Abacus Life from $12.00 to $10.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 2nd. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $13.75.
Check Out Our Latest Research Report on ABL
Abacus Life Trading Down 0.7%
The stock has a market capitalization of $518.15 million and a PE ratio of -23.26. 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 company's 50 day moving average price is $7.02 and its two-hundred day moving average price is $7.41.
Abacus Life (NASDAQ:ABL - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.18 EPS for the quarter, topping analysts' consensus estimates of $0.16 by $0.02. The company had revenue of $44.14 million for the quarter, compared to the consensus estimate of $39.51 million. Abacus Life had a negative net margin of 13.35% and a positive return on equity of 16.76%. As a group, analysts expect that Abacus Life, Inc. will post 0.62 earnings per share for the current year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the company. State of Wyoming acquired a new stake in shares of Abacus Life in the first quarter valued at $105,000. Squarepoint Ops LLC acquired a new stake in Abacus Life in the 4th quarter valued at about $113,000. JPMorgan Chase & Co. grew its position in shares of Abacus Life by 640.9% during the fourth quarter. JPMorgan Chase & Co. now owns 16,670 shares of the company's stock worth $131,000 after buying an additional 14,420 shares in the last quarter. LPL Financial LLC lifted its stake in Abacus Life by 31.0% in the fourth quarter. LPL Financial LLC now owns 23,288 shares of the company's stock worth $182,000 after acquiring an additional 5,507 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in Abacus Life during the 4th quarter worth approximately $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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