Abacus Life, Inc. (NASDAQ:ABL - Get Free Report) traded up 4.3% during mid-day trading on Friday . The company traded as high as $6.09 and last traded at $6.09. 1,141,441 shares were traded during trading, an increase of 270% from the average session volume of 308,577 shares. The stock had previously closed at $5.84.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the stock. Maxim Group assumed coverage on shares of Abacus Life in a research note on Tuesday, April 29th. They set a "buy" rating and a $14.00 price target for the company. Piper Sandler raised their price target on shares of Abacus Life from $11.50 to $12.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $14.08.
Check Out Our Latest Research Report on ABL
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's 50 day moving average is $7.80 and its two-hundred day moving average is $7.69. The firm has a market capitalization of $586.93 million, a P/E ratio of -33.66 and a beta of 0.11.
Abacus Life (NASDAQ:ABL - Get Free Report) last released 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 business had revenue of $44.14 million during the quarter, compared to analysts' expectations of $39.51 million. Research analysts predict that Abacus Life, Inc. will post 0.62 EPS for the current year.
Hedge Funds Weigh In On Abacus Life
Hedge funds and other institutional investors have recently made changes to their positions in the company. State of Wyoming bought a new position in shares of Abacus Life in the first quarter valued at $105,000. Squarepoint Ops LLC acquired a new stake in Abacus Life during the 4th quarter valued at $113,000. JPMorgan Chase & Co. lifted its holdings in Abacus Life by 640.9% during 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 last quarter. LPL Financial LLC lifted its holdings in Abacus Life by 31.0% during 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, XTX Topco Ltd acquired a new stake in Abacus Life during the 4th quarter valued at $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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