Abacus Life (NASDAQ:ABL) Sees Strong Trading Volume – Should You Buy?

Abacus Life, Inc. (NASDAQ:ABL) saw strong trading volume on Monday . 89,973 shares changed hands during mid-day trading, an increase of 2% from the previous session’s volume of 87,845 shares.The stock last traded at $7.95 and had previously closed at $7.90.

Analyst Ratings Changes

ABL has been the topic of several research analyst reports. Northland Capmk upgraded Abacus Life to a “strong-buy” rating in a research report on Thursday, October 24th. Northland Securities initiated coverage on shares of Abacus Life in a report on Thursday, October 24th. They set an “outperform” rating and a $13.50 price target on the stock. B. Riley upped their target price on Abacus Life from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, Piper Sandler restated an “overweight” rating and set a $13.00 price objective (up previously from $12.00) on shares of Abacus Life in a report on Friday, November 8th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Abacus Life currently has a consensus rating of “Buy” and an average price target of $14.70.

Abacus Life Stock Performance

The business has a 50 day simple moving average of $8.13 and a 200 day simple moving average of $9.14. The company has a market capitalization of $659.65 million, a PE ratio of -43.28 and a beta of 0.14. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.65.

Abacus Life (NASDAQ:ABL) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. The business had revenue of $28.15 million during the quarter, compared to analyst estimates 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 last year, the business posted $0.01 EPS. Equities research analysts predict that Abacus Life, Inc. will post 0.64 EPS for the current fiscal year.

Insider Activity

In other news, Director Adam Samuel Gusky acquired 18,241 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was purchased at an average price of $7.54 per share, with a total value of $137,537.14. Following the completion of the acquisition, the director now owns 40,959 shares of the company’s stock, valued at $308,830.86. This trade represents a 80.29 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Sean Mcnealy sold 75,800 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $8.00, for a total transaction of $606,400.00. Following the sale, the insider now directly owns 12,361,500 shares in the company, valued at $98,892,000. This represents a 0.61 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 36,367 shares of company stock worth $279,626 and have sold 2,263,300 shares worth $18,106,400. Insiders own 79.20% of the company’s stock.

Institutional Investors Weigh In On Abacus Life

Several institutional investors have recently added to or reduced their stakes in the business. Evernest Financial Advisors LLC acquired a new stake in Abacus Life during the third quarter worth approximately $681,000. Charles Schwab Investment Management Inc. purchased a new position in shares of Abacus Life in the 3rd quarter valued at $614,000. Principal Financial Group Inc. raised its stake in Abacus Life by 7.9% during the 3rd quarter. Principal Financial Group Inc. now owns 1,011,143 shares of the company’s stock worth $10,233,000 after acquiring an additional 74,172 shares in the last quarter. Royce & Associates LP lifted its position in Abacus Life by 35.0% in the third quarter. Royce & Associates LP now owns 297,000 shares of the company’s stock valued at $3,006,000 after acquiring an additional 77,000 shares during the last quarter. Finally, Mendon Capital Advisors Corp acquired a new position in Abacus Life in the second quarter valued at $4,974,000.

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.