Abacus Life, Inc. (NASDAQ:ABL) Short Interest Update

Abacus Life, Inc. (NASDAQ:ABL) was the recipient of a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 496,500 shares, a decline of 34.1% from the February 13th total of 752,900 shares. Based on an average daily trading volume, of 216,400 shares, the short-interest ratio is currently 2.3 days. Currently, 1.4% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Separately, B. Riley cut their price objective on Abacus Life from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $14.30.

Abacus Life Trading Up 1.6 %

Shares of ABL opened at $7.62 on Friday. Abacus Life has a 1 year low of $6.75 and a 1 year high of $12.65. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.65. The stock has a 50 day simple moving average of $7.60 and a 200-day simple moving average of $8.50. The stock has a market cap of $736.43 million, a PE ratio of -42.33 and a beta of 0.14.

Insider Activity at Abacus Life

In related news, Director Adam Samuel Gusky purchased 7,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was bought at an average price of $7.72 per share, for a total transaction of $54,040.00. Following the purchase, the director now owns 59,085 shares in the company, valued at $456,136.20. The trade was a 13.44 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Sean Mcnealy sold 75,800 shares of the company’s 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 sale, the insider now owns 12,361,500 shares of the company’s stock, valued at approximately $98,892,000. This trade represents a 0.61 % decrease in their position. The disclosure for this sale can be found here. 79.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Abacus Life

A number of large investors have recently bought and sold shares of the business. Alyeska Investment Group L.P. grew its position in Abacus Life by 116.5% during the 4th quarter. Alyeska Investment Group L.P. now owns 2,540,790 shares of the company’s stock worth $19,894,000 after acquiring an additional 1,367,210 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Abacus Life by 23.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,399,204 shares of the company’s stock valued at $10,830,000 after buying an additional 263,036 shares during the last quarter. Royce & Associates LP boosted its position in Abacus Life by 339.9% in the 4th quarter. Royce & Associates LP now owns 1,306,431 shares of the company’s stock valued at $10,229,000 after buying an additional 1,009,431 shares during the last quarter. Mendon Capital Advisors Corp boosted its position in shares of Abacus Life by 137.1% in the 4th quarter. Mendon Capital Advisors Corp now owns 1,303,826 shares of the company’s stock worth $10,209,000 after purchasing an additional 753,826 shares during the last quarter. Finally, Curi RMB Capital LLC boosted its position in shares of Abacus Life by 110.7% in the 4th quarter. Curi RMB Capital LLC now owns 1,159,000 shares of the company’s stock worth $9,075,000 after purchasing an additional 609,000 shares during the last quarter.

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.