Abacus Life, Inc. (NASDAQ:ABL) Short Interest Update

Abacus Life, Inc. (NASDAQ:ABL) was the recipient of a large decrease in short interest during the month of December. As of December 15th, there was short interest totalling 483,200 shares, a decrease of 17.8% from the November 30th total of 587,800 shares. Approximately 2.0% of the company’s shares are sold short. Based on an average trading volume of 180,500 shares, the days-to-cover ratio is presently 2.7 days.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ABL shares. Northland Securities initiated coverage on Abacus Life in a research note on Thursday, October 24th. They set an “outperform” rating and a $13.50 price target on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $13.00 price target (up previously from $12.00) on shares of Abacus Life in a report on Friday, November 8th. Northland Capmk raised shares of Abacus Life to a “strong-buy” rating in a research note on Thursday, October 24th. Finally, B. Riley increased their target price on Abacus Life from $16.00 to $17.00 and gave the company a “buy” rating in a report on Monday, November 25th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $14.70.

Insider Transactions at Abacus Life

In related news, insider Matthew Ganovsky sold 156,250 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $8.00, for a total value of $1,250,000.00. Following the transaction, the insider now owns 10,847,047 shares in the company, valued at $86,776,376. The trade was a 1.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jay J. Jackson sold 2,031,250 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $8.00, for a total value of $16,250,000.00. Following the transaction, the chief executive officer now directly owns 10,562,000 shares of the company’s stock, valued at approximately $84,496,000. This trade represents a 16.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have purchased 36,367 shares of company stock worth $279,626 and have sold 2,263,300 shares worth $18,106,400. Company insiders own 79.20% of the company’s stock.

Institutional Trading of Abacus Life

A number of institutional investors and hedge funds have recently modified their holdings of ABL. Richard W. Paul & Associates LLC raised its position in shares of Abacus Life by 27.8% during the 3rd quarter. Richard W. Paul & Associates LLC now owns 38,902 shares of the company’s stock worth $394,000 after buying an additional 8,454 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Abacus Life in the second quarter worth approximately $106,000. Curi RMB Capital LLC increased its position in shares of Abacus Life by 2.4% during the 3rd quarter. Curi RMB Capital LLC now owns 550,000 shares of the company’s stock valued at $5,566,000 after purchasing an additional 12,765 shares during the period. Levin Capital Strategies L.P. acquired a new position in Abacus Life during the second quarter worth about $130,000. Finally, Franklin Resources Inc. boosted its position in shares of Abacus Life by 3.6% during the 3rd quarter. Franklin Resources Inc. now owns 437,733 shares of the company’s stock valued at $4,382,000 after purchasing an additional 15,308 shares in the last quarter.

Abacus Life Trading Down 2.2 %

ABL traded down $0.17 during trading on Monday, hitting $7.58. 11,439 shares of the company’s stock were exchanged, compared to its average volume of 95,099. The firm has a market cap of $641.87 million, a P/E ratio of -42.11 and a beta of 0.13. The stock has a 50 day moving average price of $8.25 and a 200 day moving average price of $9.21. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.65. Abacus Life has a 1 year low of $7.07 and a 1 year high of $13.25.

Abacus Life (NASDAQ:ABL) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. Abacus Life had a negative net margin of 11.65% and a positive return on equity of 12.88%. The company had revenue of $28.15 million during the quarter, compared to analysts’ expectations of $26.08 million. During the same period in the prior year, the company posted $0.01 EPS. As a group, analysts expect that Abacus Life will post 0.64 EPS for the current fiscal year.

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.