Abacus Life (NASDAQ:ABL) Shares Gap Down to $9.76

Abacus Life, Inc. (NASDAQ:ABL) shares gapped down before the market opened on Friday . The stock had previously closed at $9.76, but opened at $8.38. Abacus Life shares last traded at $8.63, with a volume of 173,238 shares.

Analyst Ratings Changes

Separately, B. Riley began coverage on Abacus Life in a research report on Friday, May 31st. They set a “buy” rating and a $16.00 target price on the stock.

Abacus Life Price Performance

The stock has a market cap of $556.74 million, a price-to-earnings ratio of 435.72 and a beta of 0.17. The company has a 50-day moving average of $11.27 and a 200-day moving average of $11.16. The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.12 and a current ratio of 3.12.

Abacus Life (NASDAQ:ABL) last issued its quarterly earnings results on Monday, May 13th. The company reported $0.11 earnings per share (EPS) for the quarter. The firm had revenue of $21.49 million for the quarter. Abacus Life had a return on equity of 4.96% and a net margin of 0.11%. As a group, equities research analysts predict that Abacus Life, Inc. will post 0.52 earnings per share for the current year.

Hedge Funds Weigh In On Abacus Life

Several institutional investors and hedge funds have recently added to or reduced their stakes in ABL. Barclays PLC acquired a new position in Abacus Life during the 3rd quarter worth approximately $47,000. Quarry LP purchased a new stake in shares of Abacus Life during the 4th quarter worth approximately $463,000. Finally, Inscription Capital LLC purchased a new stake in shares of Abacus Life during the 1st quarter worth approximately $137,000.

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.