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

Abacus Life, Inc. (NASDAQ:ABL) was the recipient of a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 496,500 shares, a drop of 34.1% from the February 13th total of 752,900 shares. Based on an average daily volume of 216,400 shares, the short-interest ratio is currently 2.3 days. Approximately 1.4% of the company’s shares are short sold.

Analyst Ratings Changes

Separately, B. Riley dropped their price objective on shares of Abacus Life from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $14.30.

Insider Transactions at Abacus Life

In related news, insider Sean Mcnealy sold 75,800 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $8.00, for a total value of $606,400.00. Following the completion of the sale, the insider now owns 12,361,500 shares of the company’s stock, valued at $98,892,000. This trade represents a 0.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 79.20% of the company’s stock.

Institutional Investors Weigh In On Abacus Life

Institutional investors have recently modified their holdings of the business. Geneos Wealth Management Inc. purchased a new stake in Abacus Life in the fourth quarter worth approximately $110,000. Squarepoint Ops LLC purchased a new stake in Abacus Life in the fourth quarter worth about $113,000. JPMorgan Chase & Co. raised its stake 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 worth $131,000 after buying an additional 14,420 shares during the period. LPL Financial LLC grew its stake in shares of Abacus Life by 31.0% during the 4th quarter. LPL Financial LLC now owns 23,288 shares of the company’s stock valued at $182,000 after acquiring an additional 5,507 shares during the period. Finally, XTX Topco Ltd purchased a new stake in Abacus Life in the 4th quarter worth approximately $193,000.

Abacus Life Price Performance

Shares of NASDAQ ABL opened at $7.62 on Monday. The firm has a market cap of $736.43 million, a P/E ratio of -42.33 and a beta of 0.14. The company has a 50 day moving average of $7.59 and a 200 day moving average of $8.45. Abacus Life has a twelve month low of $6.75 and a twelve month high of $12.65. 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 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.