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

Abacus Life, Inc. (NASDAQ:ABL) saw a significant decline in short interest in the month of December. As of December 15th, there was short interest totalling 483,200 shares, a decline of 17.8% from the November 30th total of 587,800 shares. Based on an average daily volume of 180,500 shares, the short-interest ratio is currently 2.7 days. Currently, 2.0% of the shares of the company are sold short.

Insider Activity at Abacus Life

In related news, insider Sean Mcnealy sold 75,800 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $8.00, for a total value of $606,400.00. Following the completion of the transaction, the insider now directly 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 at the SEC website. Also, CEO Jay J. Jackson sold 2,031,250 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $8.00, for a total transaction of $16,250,000.00. Following the sale, the chief executive officer now directly owns 10,562,000 shares in the company, valued at $84,496,000. This trade represents a 16.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders acquired 36,367 shares of company stock worth $279,626 and sold 2,263,300 shares worth $18,106,400. 79.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Abacus Life

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its position in shares of Abacus Life by 7.9% in the third quarter. Principal Financial Group Inc. now owns 1,011,143 shares of the company’s stock valued at $10,233,000 after buying an additional 74,172 shares during the last quarter. Franklin Resources Inc. grew its stake in Abacus Life by 3.6% during the 3rd quarter. Franklin Resources Inc. now owns 437,733 shares of the company’s stock valued at $4,382,000 after acquiring an additional 15,308 shares in the last quarter. Geode Capital Management LLC raised its holdings in Abacus Life by 439.6% in the 3rd quarter. Geode Capital Management LLC now owns 171,917 shares of the company’s stock valued at $1,741,000 after acquiring an additional 140,054 shares during the last quarter. Charles Schwab Investment Management Inc. acquired a new stake in Abacus Life in the 3rd quarter valued at about $614,000. Finally, Royce & Associates LP lifted its stake in Abacus Life by 35.0% in the 3rd quarter. Royce & Associates LP now owns 297,000 shares of the company’s stock worth $3,006,000 after purchasing an additional 77,000 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Northland Capmk raised shares of Abacus Life to a “strong-buy” rating in a research note on Thursday, October 24th. B. Riley increased their price target on Abacus Life from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Piper Sandler restated an “overweight” rating and issued a $13.00 price objective (up from $12.00) on shares of Abacus Life in a research report on Friday, November 8th. Finally, Northland Securities began coverage on Abacus Life in a research note on Thursday, October 24th. They set an “outperform” rating and a $13.50 target price for the company. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Abacus Life presently has a consensus rating of “Buy” and an average target price of $14.70.

Abacus Life Stock Performance

Shares of Abacus Life stock opened at $7.75 on Tuesday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.65. Abacus Life has a twelve month low of $7.07 and a twelve month high of $13.25. The firm has a market capitalization of $656.26 million, a PE ratio of -43.05 and a beta of 0.13. The firm’s 50-day moving average price is $8.25 and its 200 day moving average price is $9.21.

Abacus Life (NASDAQ:ABL) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. The firm had revenue of $28.15 million for the quarter, compared to analyst estimates of $26.08 million. During the same period in the previous year, the company posted $0.01 earnings per share. On average, sell-side analysts predict that Abacus Life will post 0.64 EPS for the current fiscal 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.