Abacus Life (NASDAQ:ABL) Shares Gap Up to $8.81

Abacus Life, Inc. (NASDAQ:ABLGet Free Report)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $8.81, but opened at $9.23. Abacus Life shares last traded at $8.93, with a volume of 6,048 shares changing hands.

Analyst Upgrades and Downgrades

ABL has been the topic of a number of analyst reports. B. Riley reiterated a “buy” rating and issued a $15.00 price objective (down from $16.00) on shares of Abacus Life in a research report on Monday. B. Riley Financial lowered their price objective on shares of Abacus Life from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Piper Sandler began coverage on shares of Abacus Life in a research report on Wednesday. They issued an “overweight” rating and a $12.00 price objective on the stock.

Get Our Latest Research Report on ABL

Abacus Life Stock Up 2.6 %

The firm has a market cap of $577.84 million, a price-to-earnings ratio of 440.72 and a beta of 0.17. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 1.03. The firm has a 50 day moving average price of $11.08 and a 200-day moving average price of $11.20.

Abacus Life (NASDAQ:ABLGet Free Report) last released its quarterly earnings results on Monday, May 13th. The company reported $0.11 earnings per share (EPS) for the quarter. The business had revenue of $21.49 million during the quarter. Abacus Life had a return on equity of 4.96% and a net margin of 0.11%. On average, equities analysts forecast that Abacus Life, Inc. will post 0.5 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ABL. Inscription Capital LLC acquired a new position in Abacus Life in the 1st quarter valued at about $137,000. Quarry LP acquired a new position in Abacus Life in the 4th quarter valued at about $463,000. Finally, Barclays PLC acquired a new position in Abacus Life in the 3rd quarter valued at about $47,000.

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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