Abacus Life, Inc. (NASDAQ:ABL – Get Free Report) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 393,900 shares, an increase of 11.8% from the August 31st total of 352,400 shares. Based on an average daily volume of 103,900 shares, the short-interest ratio is currently 3.8 days. Approximately 3.1% of the company’s stock are sold short.
Abacus Life Stock Performance
NASDAQ ABL opened at $10.27 on Friday. The company has a fifty day moving average of $10.13 and a two-hundred day moving average of $10.64. The company has a market capitalization of $656.51 million, a PE ratio of 513.50 and a beta of 0.12. Abacus Life has a 1 year low of $5.75 and a 1 year high of $13.25. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.84 and a quick ratio of 1.84.
Abacus Life (NASDAQ:ABL – Get Free Report) last announced its earnings results on Monday, August 12th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.05. The firm had revenue of $29.08 million during the quarter, compared to analysts’ expectations 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 period in the prior year, the firm earned $0.13 EPS. As a group, analysts expect that Abacus Life will post 0.57 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Check Out Our Latest Analysis on Abacus Life
Institutional Investors Weigh In On Abacus Life
Several large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Abacus Life during the second quarter worth about $9,909,000. Principal Financial Group Inc. acquired a new stake in Abacus Life during the 2nd quarter worth approximately $8,105,000. Point72 Asset Management L.P. purchased a new position in shares of Abacus Life in the 2nd quarter valued at approximately $5,190,000. Mendon Capital Advisors Corp acquired a new position in shares of Abacus Life in the second quarter valued at approximately $4,974,000. Finally, Clearbridge Investments LLC purchased a new stake in shares of Abacus Life during the second quarter worth approximately $4,342,000.
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.
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