Analysts Set Abacus Life, Inc. (NASDAQ:ABL) PT at $14.70

Abacus Life, Inc. (NASDAQ:ABL) has been given a consensus rating of “Buy” by the six research firms that are covering the firm, MarketBeat reports. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $14.70.

ABL has been the subject of a number of research reports. B. Riley increased their target price on Abacus Life from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Piper Sandler reissued an “overweight” rating and issued a $13.00 price objective (up from $12.00) on shares of Abacus Life in a research note on Friday, November 8th. Northland Capmk upgraded shares of Abacus Life to a “strong-buy” rating in a research report on Thursday, October 24th. B. Riley Financial reiterated a “buy” rating and issued a $16.00 price target on shares of Abacus Life in a research report on Friday, August 30th. Finally, Northland Securities started coverage on Abacus Life in a research note on Thursday, October 24th. They set an “outperform” rating and a $13.50 price objective on the stock.

Insider Buying and Selling

In other Abacus Life news, CEO Jay J. Jackson sold 2,031,250 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $8.00, for a total value of $16,250,000.00. Following the transaction, the chief executive officer now owns 10,562,000 shares of the company’s stock, valued at $84,496,000. This represents a 16.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Matthew Ganovsky sold 156,250 shares of Abacus Life stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $8.00, for a total value of $1,250,000.00. Following the sale, the insider now owns 10,847,047 shares of the company’s stock, valued at approximately $86,776,376. This trade represents a 1.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have bought 36,367 shares of company stock valued at $279,626 in the last ninety days. 79.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Abacus Life

A number of hedge funds have recently added to or reduced their stakes in ABL. Richard W. Paul & Associates LLC boosted its holdings in shares of Abacus Life by 4.8% in the second quarter. Richard W. Paul & Associates LLC now owns 30,448 shares of the company’s stock valued at $263,000 after purchasing an additional 1,401 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of Abacus Life during the 2nd quarter worth $9,909,000. Principal Financial Group Inc. purchased a new position in shares of Abacus Life during the second quarter valued at $8,105,000. Stieven Capital Advisors L.P. bought a new stake in shares of Abacus Life in the second quarter valued at about $2,811,000. Finally, Levin Capital Strategies L.P. purchased a new stake in Abacus Life in the second quarter worth about $130,000.

Abacus Life Stock Down 0.5 %

Shares of ABL stock opened at $7.51 on Friday. The company’s fifty day simple moving average is $8.55 and its two-hundred day simple moving average is $9.38. Abacus Life has a 52 week low of $7.07 and a 52 week high of $13.25. The stock has a market cap of $635.94 million, a P/E ratio of -41.72 and a beta of 0.13. 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 (NASDAQ:ABL) last posted its earnings results on Thursday, November 7th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. The company had revenue of $28.15 million for the quarter, compared to the consensus estimate of $26.08 million. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. During the same period in the previous year, the business earned $0.01 earnings per share. Analysts predict that Abacus Life will post 0.64 EPS for the current fiscal year.

About Abacus Life

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.