Abacus Life (NASDAQ:ABL) Shares Up 4.3% – Still a Buy?

Abacus Life, Inc. (NASDAQ:ABL) was up 4.3% on Tuesday . The company traded as high as $8.22 and last traded at $7.93. Approximately 113,464 shares were traded during trading, a decline of 46% from the average daily volume of 210,771 shares. The stock had previously closed at $7.60.

Analysts Set New Price Targets

Separately, B. Riley lowered their price objective on Abacus Life from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $14.30.

Abacus Life Trading Down 4.5 %

The company has a market cap of $717.11 million, a price-to-earnings ratio of -41.22 and a beta of 0.14. The firm has a 50-day moving average price of $7.60 and a 200 day moving average price of $8.41. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.65.

Insider Transactions at Abacus Life

In related news, insider Sean Mcnealy sold 75,800 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $8.00, for a total transaction of $606,400.00. Following the completion of the transaction, the insider now owns 12,361,500 shares in the company, valued at $98,892,000. The trade was a 0.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 79.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. acquired a new position in Abacus Life during the 4th quarter valued at approximately $110,000. Squarepoint Ops LLC bought a new stake in Abacus Life during the 4th quarter valued at $113,000. JPMorgan Chase & Co. raised its stake in Abacus Life by 640.9% during the 4th quarter. JPMorgan Chase & Co. now owns 16,670 shares of the company’s stock valued at $131,000 after acquiring an additional 14,420 shares in the last quarter. LPL Financial LLC raised its stake in Abacus Life by 31.0% during the 4th quarter. LPL Financial LLC now owns 23,288 shares of the company’s stock valued at $182,000 after acquiring an additional 5,507 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in Abacus Life during the 4th quarter valued at $193,000.

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.