Abacus Life (NASDAQ:ABL) Sets New 12-Month Low – Here’s What Happened

Abacus Life, Inc. (NASDAQ:ABL) shares hit a new 52-week low during trading on Monday . The stock traded as low as $6.70 and last traded at $7.04, with a volume of 388216 shares. The stock had previously closed at $7.08.

Analyst Upgrades and Downgrades

Separately, B. Riley reduced their price objective 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 issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $14.30.

Abacus Life Stock Down 0.6 %

The company’s 50-day simple moving average is $7.58 and its two-hundred day simple moving average is $8.16. The firm has a market capitalization of $681.85 million, a P/E ratio of -39.11 and a beta of 0.16. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.29.

Abacus Life (NASDAQ:ABL) last announced its earnings results on Thursday, March 27th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. The company had revenue of $33.21 million for the quarter, compared to analysts’ expectations of $28.76 million. As a group, 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 large investors have recently made changes to their positions in the stock. Geneos Wealth Management Inc. bought a new stake in Abacus Life during the 4th quarter worth approximately $110,000. Squarepoint Ops LLC bought a new position in shares of Abacus Life in the fourth quarter worth approximately $113,000. JPMorgan Chase & Co. increased 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 purchasing an additional 14,420 shares in the last quarter. LPL Financial LLC raised its position 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 purchasing an additional 5,507 shares during the period. Finally, XTX Topco Ltd purchased a new position in shares of Abacus Life during the 4th quarter valued at $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.