Piper Sandler Issues Pessimistic Forecast for Abacus Life (NASDAQ:ABL) Stock Price

Abacus Life (NASDAQ:ABL) had its price target dropped by equities researchers at Piper Sandler from $13.00 to $11.50 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price target suggests a potential upside of 61.97% from the stock’s previous close.

Separately, B. Riley decreased their price objective on Abacus Life from $17.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $14.00.

Abacus Life Price Performance

ABL opened at $7.10 on Tuesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a market capitalization of $687.66 million, a PE ratio of -39.44 and a beta of 0.16. The stock’s 50 day moving average price is $7.50 and its 200-day moving average price is $8.10. Abacus Life has a 52-week low of $6.34 and a 52-week high of $12.50.

Abacus Life (NASDAQ:ABL) last issued its quarterly earnings data on Thursday, March 27th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. Abacus Life had a negative net margin of 11.65% and a positive return on equity of 12.88%. The business had revenue of $33.21 million for the quarter, compared to the consensus estimate of $28.76 million. On average, equities research analysts predict that Abacus Life will post 0.62 EPS for the current year.

Institutional Trading of Abacus Life

Several institutional investors have recently bought and sold shares of the company. Geneos Wealth Management Inc. purchased a new stake in shares of Abacus Life during the fourth quarter valued at approximately $110,000. Squarepoint Ops LLC bought a new position in Abacus Life in the 4th quarter valued at approximately $113,000. JPMorgan Chase & Co. boosted its stake in Abacus Life by 640.9% during the 4th quarter. JPMorgan Chase & Co. now owns 16,670 shares of the company’s stock valued at $131,000 after purchasing an additional 14,420 shares during the last quarter. LPL Financial LLC increased its holdings in shares of Abacus Life by 31.0% in the 4th quarter. LPL Financial LLC now owns 23,288 shares of the company’s stock worth $182,000 after purchasing an additional 5,507 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Abacus Life in the 4th quarter worth $193,000.

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.