Abacus Life (NASDAQ:ABL) Sees Large Volume Increase

Shares of Abacus Life, Inc. (NASDAQ:ABL) saw strong trading volume on Thursday . 40,936 shares changed hands during mid-day trading, a decline of 26% from the previous session’s volume of 55,352 shares.The stock last traded at $10.23 and had previously closed at $10.40.

Analysts Set New Price Targets

ABL has been the topic of a number of recent research reports. B. Riley reaffirmed a “buy” rating and set a $16.00 price target (up previously from $15.00) on shares of Abacus Life in a research note on Thursday, August 29th. B. Riley Financial restated a “buy” rating and set a $16.00 price objective on shares of Abacus Life in a report on Friday, August 30th. Piper Sandler assumed coverage on Abacus Life in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $12.00 target price on the stock. Finally, TD Cowen assumed coverage on shares of Abacus Life in a research note on Wednesday, August 7th. They set a “buy” rating and a $14.00 target price for the company. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $14.50.

Abacus Life Trading Down 6.3 %

The stock’s fifty day simple moving average is $9.91 and its 200-day simple moving average is $10.69. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a market cap of $622.63 million, a PE ratio of 520.00 and a beta of 0.12.

Abacus Life (NASDAQ:ABL) last issued its earnings results on Monday, August 12th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.05. The firm had revenue of $29.08 million for the quarter, compared to analyst estimates of $28.57 million. Abacus Life had a positive return on equity of 7.02% and a negative net margin of 6.19%. During the same quarter in the prior year, the firm earned $0.13 earnings per share. On average, sell-side analysts forecast that Abacus Life, Inc. will post 0.57 earnings per share for the current year.

Institutional Investors Weigh In On Abacus Life

A number of hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC purchased a new stake in Abacus Life in the second quarter valued at approximately $106,000. Levin Capital Strategies L.P. purchased a new position in Abacus Life during the 2nd quarter valued at about $130,000. Inscription Capital LLC purchased a new stake in Abacus Life during the first quarter worth about $137,000. Richard W. Paul & Associates LLC lifted its position in shares of Abacus Life by 4.8% during the second quarter. Richard W. Paul & Associates LLC now owns 30,448 shares of the company’s stock worth $263,000 after purchasing an additional 1,401 shares in the last quarter. Finally, Quarry LP purchased a new stake in Abacus Life during the 2nd quarter worth approximately $318,000.

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.