Brokerages Set Abacus Life, Inc. (NASDAQ:ABL) Price Target at $14.30

Abacus Life, Inc. (NASDAQ:ABL) has received a consensus recommendation of “Buy” from the six research firms that are presently covering the company, Marketbeat.com reports. Five equities research 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 brokerages that have issued a report on the stock in the last year is $14.30.

Separately, B. Riley lowered their price target on Abacus Life from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th.

Abacus Life Stock Down 2.3 %

ABL opened at $7.35 on Friday. The stock’s 50 day moving average price is $7.62 and its 200 day moving average price is $8.33. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market cap of $710.34 million, a P/E ratio of -40.83 and a beta of 0.14. Abacus Life has a 12 month low of $6.75 and a 12 month high of $12.50.

Institutional Investors Weigh In On Abacus Life

Institutional investors and hedge funds have recently bought and sold shares of the business. Alyeska Investment Group L.P. raised its holdings in shares of Abacus Life by 116.5% in the 4th quarter. Alyeska Investment Group L.P. now owns 2,540,790 shares of the company’s stock worth $19,894,000 after purchasing an additional 1,367,210 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Abacus Life by 23.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,399,204 shares of the company’s stock valued at $10,830,000 after buying an additional 263,036 shares in the last quarter. Royce & Associates LP lifted its position in shares of Abacus Life by 339.9% during the 4th quarter. Royce & Associates LP now owns 1,306,431 shares of the company’s stock valued at $10,229,000 after acquiring an additional 1,009,431 shares during the last quarter. Mendon Capital Advisors Corp boosted its stake in shares of Abacus Life by 137.1% during the 4th quarter. Mendon Capital Advisors Corp now owns 1,303,826 shares of the company’s stock worth $10,209,000 after acquiring an additional 753,826 shares in the last quarter. Finally, Curi RMB Capital LLC grew its holdings in shares of Abacus Life by 110.7% in the 4th quarter. Curi RMB Capital LLC now owns 1,159,000 shares of the company’s stock worth $9,075,000 after acquiring an additional 609,000 shares during the last quarter.

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.