Abacus Life (NASDAQ:ABL) Sees Strong Trading Volume

Shares of Abacus Life, Inc. (NASDAQ:ABL) saw an uptick in trading volume on Thursday . 40,936 shares changed hands during 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

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

Abacus Life Trading Up 3.3 %

The firm’s 50-day simple moving average is $9.97 and its 200 day simple moving average is $10.68. The firm has a market cap of $653.31 million, a P/E ratio of 511.00 and a beta of 0.12. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.59.

Abacus Life (NASDAQ:ABL) last posted its quarterly earnings data on Monday, August 12th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.13 by $0.05. Abacus Life had a positive return on equity of 7.02% and a negative net margin of 6.19%. The business had revenue of $29.08 million for the quarter, compared to the consensus estimate of $28.57 million. During the same quarter in the prior year, the business earned $0.13 earnings per share. As a group, analysts expect that Abacus Life, Inc. will post 0.57 earnings per share for the current year.

Institutional Investors Weigh In On Abacus Life

Large investors have recently added to or reduced their stakes in the company. Quarry LP purchased a new position in shares of Abacus Life in the fourth quarter valued at $463,000. Inscription Capital LLC bought a new stake in Abacus Life during the 1st quarter worth approximately $137,000. Richard W. Paul & Associates LLC lifted its stake in Abacus Life by 4.8% in the 2nd 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. Allspring Global Investments Holdings LLC bought a new position in Abacus Life in the 2nd quarter valued at $9,909,000. Finally, Principal Financial Group Inc. purchased a new position in shares of Abacus Life during the 2nd quarter valued at $8,105,000.

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.