Abacus Life (NASDAQ:ABL) Sees Strong Trading Volume

Abacus Life, Inc. (NASDAQ:ABL) saw unusually-high trading volume on Tuesday . Approximately 50,146 shares were traded during mid-day trading, a decline of 22% from the previous session’s volume of 64,609 shares.The stock last traded at $10.08 and had previously closed at $10.12.

Analyst Upgrades and Downgrades

A number of research firms have commented on ABL. Piper Sandler began coverage on shares of Abacus Life in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $12.00 price objective on the stock. TD Cowen began coverage on shares of Abacus Life in a research note on Wednesday, August 7th. They issued a “buy” rating and a $14.00 price objective on the stock. B. Riley restated a “buy” rating and issued a $16.00 price objective (up from $15.00) on shares of Abacus Life in a research note on Thursday, August 29th. Finally, B. Riley Financial reiterated a “buy” rating and set a $16.00 price target on shares of Abacus Life in a research note on Friday, August 30th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $14.50.

Abacus Life Price Performance

The firm has a market cap of $623.27 million, a PE ratio of 506.00 and a beta of 0.12. The company has a 50 day moving average price of $10.13 and a 200 day moving average price of $10.62. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.59.

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

Institutional Investors Weigh In On Abacus Life

Several hedge funds have recently made changes to their positions in ABL. Mendon Capital Advisors Corp acquired a new stake in shares of Abacus Life in the second quarter worth approximately $4,974,000. Clearbridge Investments LLC acquired a new position in shares of Abacus Life in the 2nd quarter valued at $4,342,000. Point72 Asset Management L.P. purchased a new stake in shares of Abacus Life during the 2nd quarter valued at $5,190,000. Quarry LP acquired a new stake in shares of Abacus Life during the 2nd quarter worth $318,000. Finally, Sei Investments Co. purchased a new position in shares of Abacus Life in the 2nd quarter worth $418,000.

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.