Abacus Life, Inc. (NASDAQ:ABL) Sees Large Growth in Short Interest

by · The Markets Daily

Abacus Life, Inc. (NASDAQ:ABL – Get Free Report) saw a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 393,900 shares, an increase of 11.8% from the August 31st total of 352,400 shares. Based on an average trading volume of 103,900 shares, the short-interest ratio is currently 3.8 days. Currently, 3.1% of the shares of the stock are sold short.

Abacus Life Stock Down 1.5 %

Shares of ABL opened at $10.12 on Tuesday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.59. The firm has a market cap of $646.92 million, a P/E ratio of 506.00 and a beta of 0.12. The company’s 50-day moving average price is $10.13 and its 200 day moving average price is $10.62. Abacus Life has a 12-month low of $5.75 and a 12-month high of $13.25.

Abacus Life (NASDAQ:ABL – Get Free Report) last issued 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. The firm had revenue of $29.08 million for the quarter, compared to analyst estimates of $28.57 million. Abacus Life had a negative net margin of 6.19% and a positive return on equity of 7.02%. During the same period in the prior year, the business posted $0.13 EPS. On average, sell-side analysts forecast that Abacus Life will post 0.57 earnings per share for the current year.

Institutional Investors Weigh In On Abacus Life

A number of institutional investors have recently modified their holdings of ABL. Allspring Global Investments Holdings LLC acquired a new position in shares of Abacus Life in the second quarter valued at approximately $9,909,000. Principal Financial Group Inc. purchased a new stake in shares of Abacus Life during the second quarter worth $8,105,000. Point72 Asset Management L.P. acquired a new stake in shares of Abacus Life in the second quarter valued at $5,190,000. Mendon Capital Advisors Corp acquired a new position in Abacus Life during the 2nd quarter worth $4,974,000. Finally, Clearbridge Investments LLC purchased a new stake in Abacus Life during the 2nd quarter worth about $4,342,000.

Analyst Ratings Changes

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

Read Our Latest Report on Abacus Life

About Abacus Life

(Get Free Report)

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.

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