Abacus Life (NASDAQ:ABL) Sees Large Volume Increase – Should You Buy?

Abacus Life, Inc. (NASDAQ:ABL) shares saw unusually-strong trading volume on Monday . Approximately 87,392 shares traded hands during mid-day trading, a decline of 39% from the previous session’s volume of 142,497 shares.The stock last traded at $7.30 and had previously closed at $7.62.

Analyst Upgrades and Downgrades

Separately, B. Riley cut their target price on Abacus Life from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Five equities 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 MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $14.30.

Abacus Life Trading Down 3.3 %

The company’s fifty day moving average price is $7.62 and its two-hundred day moving average price is $8.27. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.65. The company has a market cap of $712.37 million, a price-to-earnings ratio of -41.00 and a beta of 0.14.

Abacus Life (NASDAQ:ABL) last released its quarterly earnings results on Thursday, March 27th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. The firm had revenue of $33.21 million during the quarter, compared to analysts’ expectations of $28.76 million. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. Research analysts expect that Abacus Life, Inc. will post 0.62 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Geneos Wealth Management Inc. acquired a new stake in Abacus Life in the 4th quarter valued at about $110,000. Squarepoint Ops LLC bought a new stake in shares of Abacus Life during the fourth quarter valued at approximately $113,000. JPMorgan Chase & Co. increased its holdings in shares of Abacus Life by 640.9% in the fourth quarter. JPMorgan Chase & Co. now owns 16,670 shares of the company’s stock valued at $131,000 after purchasing an additional 14,420 shares in the last quarter. LPL Financial LLC raised its position in Abacus Life by 31.0% in the 4th quarter. LPL Financial LLC now owns 23,288 shares of the company’s stock worth $182,000 after purchasing an additional 5,507 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in Abacus Life during the 4th quarter worth $193,000.

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.