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

Abacus Life, Inc. (NASDAQ:ABL) was the target of a large decline in short interest in October. As of October 15th, there was short interest totalling 671,700 shares, a decline of 24.1% from the September 30th total of 884,800 shares. Based on an average daily trading volume, of 89,000 shares, the short-interest ratio is presently 7.5 days. Approximately 5.3% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ABL shares. Northland Securities assumed coverage on Abacus Life in a research report on Thursday. They set an “outperform” rating and a $13.50 price target for the company. Northland Capmk upgraded Abacus Life to a “strong-buy” rating in a research report on Thursday. 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 target price for the company. B. Riley reaffirmed a “buy” rating and set a $16.00 price target (up from $15.00) on shares of Abacus Life in a research note on Thursday, August 29th. Finally, B. Riley Financial reissued a “buy” rating and set a $16.00 price objective on shares of Abacus Life in a research note on Friday, August 30th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Abacus Life currently has a consensus rating of “Buy” and a consensus target price of $14.30.

Abacus Life Stock Performance

NASDAQ:ABL opened at $9.03 on Monday. The firm’s fifty day simple moving average is $9.94 and its 200 day simple moving average is $10.28. 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 has a twelve month low of $5.75 and a twelve month high of $13.25. The firm has a market capitalization of $674.09 million, a price-to-earnings ratio of -90.29 and a beta of 0.12.

Abacus Life (NASDAQ:ABL) last posted its quarterly earnings data on Monday, August 12th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.05. The company had revenue of $29.08 million for the quarter, compared to the consensus estimate of $28.57 million. Abacus Life had a positive return on equity of 7.02% and a negative net margin of 6.19%. During the same period in the previous year, the business earned $0.13 EPS. As a group, equities research analysts expect that Abacus Life will post 0.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Renaissance Technologies LLC bought a new position in Abacus Life in the second quarter worth about $106,000. Levin Capital Strategies L.P. bought a new stake in shares of Abacus Life in the 2nd quarter worth approximately $130,000. Richard W. Paul & Associates LLC lifted its holdings 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 worth $263,000 after purchasing an additional 1,401 shares during the last quarter. Quarry LP acquired a new position in Abacus Life during the 2nd quarter valued at approximately $318,000. Finally, Sei Investments Co. bought a new position in Abacus Life during the 2nd quarter worth $418,000.

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.