Abacus Life, Inc. (NASDAQ:ABL) Given Consensus Rating of “Buy” by Brokerages

Shares of Abacus Life, Inc. (NASDAQ:ABL) have earned an average rating of “Buy” from the six analysts that are covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $14.30.

ABL has been the subject of a number of research reports. Piper Sandler reaffirmed an “overweight” rating and issued a $13.00 target price (up from $12.00) on shares of Abacus Life in a report on Friday, November 8th. 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 note on Tuesday, January 7th.

Insider Buying and Selling

In other news, Director Adam Samuel Gusky bought 7,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was purchased at an average price of $7.72 per share, for a total transaction of $54,040.00. Following the transaction, the director now owns 59,085 shares in the company, valued at approximately $456,136.20. This trade represents a 13.44 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Sean Mcnealy sold 75,800 shares of the business’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 transaction, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 18,126 shares of company stock worth $142,089. Insiders own 79.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ABL. Geneos Wealth Management Inc. bought a new stake in shares of Abacus Life during the 4th quarter worth $110,000. Squarepoint Ops LLC acquired a new position in shares of Abacus Life in the 4th quarter valued at $113,000. JPMorgan Chase & Co. increased its stake in Abacus Life by 640.9% in the 4th 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 holdings in Abacus Life by 31.0% during the 4th quarter. LPL Financial LLC now owns 23,288 shares of the company’s stock worth $182,000 after buying an additional 5,507 shares during the period. Finally, XTX Topco Ltd purchased a new stake in Abacus Life during the fourth quarter valued at about $193,000.

Abacus Life Stock Performance

Shares of ABL stock opened at $7.14 on Wednesday. The stock’s 50-day moving average is $7.63 and its two-hundred day moving average is $8.71. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.29 and a current ratio of 1.29. Abacus Life has a 1 year low of $6.75 and a 1 year high of $12.65. The firm has a market cap of $690.01 million, a price-to-earnings ratio of -39.66 and a beta of 0.14.

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.