Brokerages Set Abacus Life, Inc. (NASDAQ:ABL) PT at $14.50

Abacus Life, Inc. (NASDAQ:ABL) has earned an average rating of “Buy” from the six research firms that are currently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $14.50.

A number of equities research analysts recently commented on ABL shares. TD Cowen initiated coverage on shares of Abacus Life in a research note on Wednesday, August 7th. They set a “buy” rating and a $14.00 price target on the stock. Northland Securities initiated coverage on shares of Abacus Life in a report on Thursday, October 24th. They issued an “outperform” rating and a $13.50 target price for the company. Northland Capmk raised Abacus Life to a “strong-buy” rating in a research note on Thursday, October 24th. B. Riley restated a “buy” rating and issued a $16.00 price target (up previously from $15.00) on shares of Abacus Life in a report on Thursday, August 29th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $13.00 price objective (up from $12.00) on shares of Abacus Life in a report on Friday, November 8th.

Institutional Trading of Abacus Life

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in shares of Abacus Life by 439.6% during the 3rd quarter. Geode Capital Management LLC now owns 171,917 shares of the company’s stock worth $1,741,000 after purchasing an additional 140,054 shares during the last quarter. Charles Schwab Investment Management Inc. purchased a new position in shares of Abacus Life during the third quarter valued at approximately $614,000. Royce & Associates LP boosted its position in Abacus Life by 35.0% during the third quarter. Royce & Associates LP now owns 297,000 shares of the company’s stock worth $3,006,000 after acquiring an additional 77,000 shares during the last quarter. Curi RMB Capital LLC raised its holdings in Abacus Life by 2.4% in the 3rd quarter. Curi RMB Capital LLC now owns 550,000 shares of the company’s stock valued at $5,566,000 after acquiring an additional 12,765 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Abacus Life by 7.9% during the 3rd quarter. Principal Financial Group Inc. now owns 1,011,143 shares of the company’s stock worth $10,233,000 after purchasing an additional 74,172 shares during the period.

Abacus Life Trading Down 13.3 %

NASDAQ:ABL opened at $7.55 on Monday. The company has a market capitalization of $563.61 million, a PE ratio of -41.94 and a beta of 0.15. Abacus Life has a 52-week low of $6.56 and a 52-week high of $13.25. The stock’s 50 day moving average price is $9.30 and its 200 day moving average price is $9.81. 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 issued its quarterly earnings results on Thursday, November 7th. The company reported $0.20 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $28.15 million for the quarter, compared to analysts’ expectations of $26.08 million. During the same quarter in the previous year, the firm posted $0.01 EPS. On average, research analysts anticipate that Abacus Life will post 0.62 EPS for the current 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.