B. Riley Issues Pessimistic Forecast for Abacus Life (NASDAQ:ABL) Stock Price

Abacus Life (NASDAQ:ABL) had its price target lowered by B. Riley from $17.00 to $15.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research firms also recently weighed in on ABL. Piper Sandler reissued an “overweight” rating and set a $13.00 price target (up previously from $12.00) on shares of Abacus Life in a research report on Friday, November 8th. Northland Securities initiated coverage on shares of Abacus Life in a research note on Thursday, October 24th. They set an “outperform” rating and a $13.50 price objective on the stock. Finally, Northland Capmk raised shares of Abacus Life to a “strong-buy” rating in a research report on Thursday, October 24th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $14.30.

Abacus Life Stock Down 2.1 %

Shares of Abacus Life stock opened at $7.56 on Tuesday. Abacus Life has a twelve month low of $7.07 and a twelve month high of $13.25. The stock has a market cap of $640.17 million, a price-to-earnings ratio of -42.00 and a beta of 0.14. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.65. The company has a fifty day moving average price of $8.08 and a 200 day moving average price of $9.11.

Abacus Life (NASDAQ:ABL) last posted its earnings results on Thursday, November 7th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $26.08 million. During the same quarter last year, the firm earned $0.01 earnings per share. Equities research analysts forecast that Abacus Life will post 0.64 earnings per share for the current fiscal year.

Insider Activity at Abacus Life

In related news, insider Sean Mcnealy sold 75,800 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $8.00, for a total transaction of $606,400.00. Following the sale, the insider now owns 12,361,500 shares in the company, valued at $98,892,000. This represents a 0.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Adam Samuel Gusky bought 18,241 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was acquired at an average cost of $7.54 per share, for a total transaction of $137,537.14. Following the acquisition, the director now directly owns 40,959 shares of the company’s stock, valued at $308,830.86. The trade was a 80.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 36,367 shares of company stock valued at $279,626 and have sold 2,263,300 shares valued at $18,106,400. Corporate insiders own 79.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC acquired a new stake in Abacus Life in the second quarter worth $106,000. Levin Capital Strategies L.P. acquired a new stake in shares of Abacus Life in the 2nd quarter worth about $130,000. Quarry LP bought a new stake in Abacus Life in the 2nd quarter valued at about $318,000. Richard W. Paul & Associates LLC boosted its stake in Abacus Life by 27.8% during the 3rd quarter. Richard W. Paul & Associates LLC now owns 38,902 shares of the company’s stock valued at $394,000 after purchasing an additional 8,454 shares during the period. Finally, Sei Investments Co. bought a new position in Abacus Life in the 2nd quarter worth about $418,000.

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.