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

Abacus Life, Inc. (NASDAQ:ABL) saw a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 770,200 shares, a growth of 14.7% from the October 15th total of 671,700 shares. Based on an average trading volume of 87,600 shares, the short-interest ratio is presently 8.8 days. Currently, 6.1% of the shares of the stock are short sold.

Abacus Life Stock Down 1.7 %

Abacus Life stock opened at $8.34 on Friday. The firm has a market cap of $622.58 million, a price-to-earnings ratio of -46.33 and a beta of 0.15. Abacus Life has a 52-week low of $5.85 and a 52-week high of $13.25. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a 50 day moving average price of $9.46 and a two-hundred day moving average price of $9.95.

Abacus Life (NASDAQ:ABL) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.06. The company had revenue of $28.15 million during the quarter, compared to analysts’ expectations of $26.08 million. Abacus Life had a negative net margin of 11.65% and a positive return on equity of 12.88%. During the same period in the prior year, the company posted $0.01 earnings per share. Equities analysts predict that Abacus Life will post 0.6 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ABL. Renaissance Technologies LLC bought a new stake in Abacus Life in the second quarter worth approximately $106,000. Levin Capital Strategies L.P. acquired a new stake in shares of Abacus Life during the 2nd quarter worth approximately $130,000. Richard W. Paul & Associates LLC increased its stake in shares of Abacus Life by 4.8% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 30,448 shares of the company’s stock valued at $263,000 after acquiring an additional 1,401 shares in the last quarter. Quarry LP acquired a new position in shares of Abacus Life during the 2nd quarter valued at $318,000. Finally, Sei Investments Co. bought a new position in Abacus Life during the second quarter worth $418,000.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. B. Riley Financial reissued a “buy” rating and set a $16.00 price target on shares of Abacus Life in a research note on Friday, August 30th. Piper Sandler reiterated an “overweight” rating and set a $13.00 target price (up from $12.00) on shares of Abacus Life in a research report on Friday, November 8th. Northland Securities started coverage on shares of Abacus Life in a report on Thursday, October 24th. They set an “outperform” rating and a $13.50 target price on the stock. B. Riley reaffirmed a “buy” rating and set a $16.00 price target (up previously from $15.00) on shares of Abacus Life in a research note on Thursday, August 29th. Finally, Northland Capmk raised shares of Abacus Life to a “strong-buy” rating in a research note on Thursday, October 24th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Abacus Life has an average rating of “Buy” and a consensus price target of $14.50.

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.