Abacus Life (NASDAQ:ABL) Sees Strong Trading Volume – What’s Next?

Shares of Abacus Life, Inc. (NASDAQ:ABL) saw an uptick in trading volume on Monday . 89,973 shares were traded during trading, an increase of 2% from the previous session’s volume of 87,845 shares.The stock last traded at $7.95 and had previously closed at $7.90.

Analyst Ratings Changes

ABL has been the subject of a number of analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $13.00 price target (up from $12.00) on shares of Abacus Life in a report on Friday, November 8th. Northland Capmk upgraded Abacus Life to a “strong-buy” rating in a research note on Thursday, October 24th. Northland Securities began coverage on Abacus Life in a research report on Thursday, October 24th. They set an “outperform” rating and a $13.50 price target on the stock. Finally, B. Riley cut their price objective on shares of Abacus Life from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $14.30.

Abacus Life Stock Down 2.2 %

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 company has a fifty day moving average price of $8.06 and a 200 day moving average price of $9.10. The company has a market cap of $625.78 million, a PE ratio of -41.05 and a beta of 0.14.

Abacus Life (NASDAQ:ABL) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. The business had revenue of $28.15 million during the quarter, compared to analysts’ expectations of $26.08 million. Abacus Life had a negative net margin of 11.65% and a positive return on equity of 12.88%. During the same quarter in the previous year, the company earned $0.01 EPS. As a group, analysts anticipate that Abacus Life, Inc. will post 0.64 EPS for the current year.

Insider Buying and Selling at Abacus Life

In other Abacus Life news, insider Matthew Ganovsky sold 156,250 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $8.00, for a total transaction of $1,250,000.00. Following the completion of the sale, the insider now directly owns 10,847,047 shares in the company, valued at $86,776,376. This represents a 1.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Sean Mcnealy sold 75,800 shares of Abacus Life stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $8.00, for a total value of $606,400.00. Following the completion of the transaction, the insider now owns 12,361,500 shares in the company, valued at approximately $98,892,000. This represents a 0.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 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.

Hedge Funds Weigh In On Abacus Life

Several institutional investors and hedge funds have recently bought and sold shares of ABL. Renaissance Technologies LLC bought a new stake in Abacus Life in the second quarter valued at approximately $106,000. Levin Capital Strategies L.P. purchased a new stake in Abacus Life during the 2nd quarter valued at $130,000. Quarry LP purchased a new stake in Abacus Life during the 2nd quarter valued at $318,000. Richard W. Paul & Associates LLC grew its holdings in Abacus Life by 27.8% in the 3rd quarter. Richard W. Paul & Associates LLC now owns 38,902 shares of the company’s stock worth $394,000 after acquiring an additional 8,454 shares during the last quarter. Finally, Sei Investments Co. purchased a new position in shares of Abacus Life in the second quarter valued at about $418,000.

About Abacus Life

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.