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

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

Analysts Set New Price Targets

ABL has been the topic of a number of recent analyst reports. Piper Sandler reissued an “overweight” rating and set a $13.00 price target (up from $12.00) on shares of Abacus Life in a research report on Friday, November 8th. Northland Capmk raised shares of Abacus Life to a “strong-buy” rating in a report on Thursday, October 24th. B. Riley reissued a “buy” rating and set a $16.00 price objective (up from $15.00) on shares of Abacus Life in a report on Thursday, August 29th. B. Riley Financial reaffirmed a “buy” rating and issued a $16.00 price target on shares of Abacus Life in a research note on Friday, August 30th. Finally, TD Cowen began coverage on shares of Abacus Life in a research note on Wednesday, August 7th. They set a “buy” rating and a $14.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Abacus Life currently has an average rating of “Buy” and a consensus price target of $14.50.

Hedge Funds Weigh In On Abacus Life

A number of large investors have recently bought and sold shares of the business. Richard W. Paul & Associates LLC raised 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 valued at $263,000 after buying an additional 1,401 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Abacus Life in the 2nd quarter valued at $106,000. Curi RMB Capital LLC lifted its holdings in shares of Abacus Life by 2.4% in the 3rd quarter. Curi RMB Capital LLC now owns 550,000 shares of the company’s stock valued at $5,566,000 after purchasing an additional 12,765 shares during the last quarter. Levin Capital Strategies L.P. acquired a new position in Abacus Life in the second quarter valued at $130,000. Finally, Quarry LP purchased a new position in shares of Abacus Life in the 2nd quarter valued at approximately $318,000.

Abacus Life Price Performance

NASDAQ ABL opened at $8.34 on Friday. The business’s fifty day moving average is $9.46 and its 200 day moving average is $9.96. 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 company has a market capitalization of $622.58 million, a PE ratio of -46.33 and a beta of 0.15. Abacus Life has a fifty-two week low of $5.85 and a fifty-two week high of $13.25.

Abacus Life (NASDAQ:ABL) last released its earnings results on Thursday, November 7th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.06. The firm had revenue of $28.15 million for the quarter, compared to the consensus estimate of $26.08 million. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. During the same quarter in the previous year, the company posted $0.01 EPS. Sell-side analysts predict that Abacus Life will post 0.6 earnings per share for the current year.

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.