Abacus Life, Inc. (NASDAQ:ABL – Get Free Report) rose 5.5% during mid-day trading on Wednesday . The company traded as high as $9.20 and last traded at $9.13. Approximately 124,304 shares traded hands during trading, an increase of 168% from the average daily volume of 46,303 shares. The stock had previously closed at $8.65.
Wall Street Analysts Forecast Growth
ABL has been the topic of a number of recent research reports. Piper Sandler assumed coverage on shares of Abacus Life in a research note on Wednesday. They set an “overweight” rating and a $12.00 price objective on the stock. B. Riley restated a “buy” rating and issued a $15.00 target price (down from $16.00) on shares of Abacus Life in a research note on Monday. Finally, B. Riley Financial lowered their target price on shares of Abacus Life from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Monday.
Get Our Latest Report on Abacus Life
Abacus Life Stock Up 5.2 %
Abacus Life (NASDAQ:ABL – Get Free Report) last posted 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%. As a group, equities analysts predict that Abacus Life, Inc. will post 0.5 earnings per share for the current year.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the company. Barclays PLC purchased a new stake in shares of Abacus Life during the third quarter worth about $47,000. Quarry LP purchased a new stake in shares of Abacus Life during the fourth quarter worth about $463,000. Finally, Inscription Capital LLC purchased a new stake in shares of Abacus Life during the first quarter worth about $137,000.
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.
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