Abacus Life (NASDAQ:ABL) Shares Gap Up to $8.40

Abacus Life, Inc. (NASDAQ:ABL) shares gapped up before the market opened on Wednesday . The stock had previously closed at $8.40, but opened at $8.64. Abacus Life shares last traded at $8.49, with a volume of 1,504 shares changing hands.

Analysts Set New Price Targets

A number of research firms have issued reports on ABL. B. Riley restated a “buy” rating and issued a $15.00 price objective (down previously from $16.00) on shares of Abacus Life in a research report on Monday, June 24th. B. Riley Financial reduced their target price on Abacus Life from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, June 24th. Finally, Piper Sandler started coverage on Abacus Life in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $12.00 price target for the company.

Abacus Life Stock Up 0.6 %

The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 1.03. The company has a market cap of $540.12 million, a PE ratio of 420.21 and a beta of 0.12. The company’s fifty day moving average is $10.51 and its 200-day moving average is $11.27.

Abacus Life (NASDAQ:ABL) last announced its earnings results on Monday, May 13th. The company reported $0.11 earnings per share (EPS) for the quarter. The company had revenue of $21.49 million during the quarter. Abacus Life had a net margin of 0.11% and a return on equity of 4.96%. On average, analysts predict that Abacus Life, Inc. will post 0.5 EPS for the current year.

Institutional Trading of Abacus Life

An institutional investor recently bought a new position in Abacus Life stock. Quarry LP bought a new position in Abacus Life, Inc. (NASDAQ:ABL) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 47,944 shares of the company’s stock, valued at approximately $463,000. Quarry LP owned approximately 0.08% of Abacus Life at the end of the most recent quarter.

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.