Brokerages Set Abacus Life, Inc. (NASDAQ:ABL) Target Price at $14.70

Shares of Abacus Life, Inc. (NASDAQ:ABL) have been given an average rating of “Buy” by the six ratings firms that are presently covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $14.30.

A number of equities analysts have recently commented on ABL shares. Northland Securities initiated coverage on Abacus Life in a report on Thursday, October 24th. They issued an “outperform” rating and a $13.50 price objective on the stock. Northland Capmk upgraded shares of Abacus Life to a “strong-buy” rating in a report on Thursday, October 24th. Piper Sandler reaffirmed an “overweight” rating and set a $13.00 price target (up from $12.00) on shares of Abacus Life in a research report on Friday, November 8th. Finally, B. Riley dropped their price objective on shares of Abacus Life from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday.

Insider Buying and Selling

In other Abacus Life news, Director Adam Samuel Gusky bought 18,241 shares of the stock in a transaction dated Friday, November 22nd. The stock was bought at an average cost of $7.54 per share, for a total transaction of $137,537.14. Following the completion of the purchase, the director now directly owns 40,959 shares of the company’s stock, valued at approximately $308,830.86. The trade was a 80.29 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Sean Mcnealy sold 75,800 shares of Abacus Life stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $8.00, for a total value of $606,400.00. Following the sale, the insider now directly owns 12,361,500 shares in the company, valued at approximately $98,892,000. The trade was a 0.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 36,367 shares of company stock valued at $279,626 and have sold 2,263,300 shares valued at $18,106,400. 79.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Abacus Life

A number of hedge funds have recently bought and sold shares of ABL. Richard W. Paul & Associates LLC increased its position in shares of Abacus Life by 27.8% in the 3rd quarter. Richard W. Paul & Associates LLC now owns 38,902 shares of the company’s stock worth $394,000 after purchasing an additional 8,454 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Abacus Life in the second quarter worth about $106,000. Curi RMB Capital LLC increased its holdings in Abacus Life by 2.4% in the third quarter. Curi RMB Capital LLC now owns 550,000 shares of the company’s stock valued at $5,566,000 after buying an additional 12,765 shares during the last quarter. Levin Capital Strategies L.P. acquired a new stake in Abacus Life during the second quarter valued at approximately $130,000. Finally, Franklin Resources Inc. lifted its holdings in Abacus Life by 3.6% during the 3rd quarter. Franklin Resources Inc. now owns 437,733 shares of the company’s stock worth $4,382,000 after buying an additional 15,308 shares during the last quarter.

Abacus Life Price Performance

Abacus Life stock opened at $7.39 on Tuesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.29 and a current ratio of 1.29. The company has a market cap of $625.79 million, a price-to-earnings ratio of -41.05 and a beta of 0.13. Abacus Life has a 1 year low of $7.07 and a 1 year high of $13.25. The firm has a 50 day moving average price of $8.06 and a 200 day moving average price of $9.10.

Abacus Life (NASDAQ:ABL) last issued its earnings results on Thursday, November 7th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.06. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. The business had revenue of $28.15 million for the quarter, compared to analyst estimates of $26.08 million. During the same period last year, the company posted $0.01 EPS. Sell-side analysts predict that Abacus Life will post 0.64 earnings per share for the current year.

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.