Analysts Set Abacus Life, Inc. (NASDAQ:ABL) Target Price at $14.50

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

A number of brokerages recently weighed in on ABL. Piper Sandler restated an “overweight” rating and issued a $13.00 price objective (up from $12.00) on shares of Abacus Life in a report on Friday, November 8th. B. Riley reaffirmed a “buy” rating and set a $16.00 price target (up from $15.00) on shares of Abacus Life in a report on Thursday, August 29th. B. Riley Financial reiterated a “buy” rating and issued a $16.00 price objective on shares of Abacus Life in a report on Friday, August 30th. TD Cowen assumed coverage on Abacus Life in a research report on Wednesday, August 7th. They issued a “buy” rating and a $14.00 target price for the company. Finally, Northland Securities started coverage on shares of Abacus Life in a report on Thursday, October 24th. They set an “outperform” rating and a $13.50 price target on the stock.

Abacus Life Trading Down 13.3 %

Abacus Life stock opened at $7.55 on Monday. Abacus Life has a 12 month low of $6.56 and a 12 month high of $13.25. The company has a market capitalization of $563.62 million, a price-to-earnings ratio of -42.28 and a beta of 0.15. The business’s fifty day simple moving average is $9.36 and its two-hundred day simple moving average is $9.87. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.65.

Abacus Life (NASDAQ:ABL) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.20 EPS for the quarter, beating the consensus estimate 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 negative net margin of 11.65% and a positive return on equity of 12.88%. During the same period in the prior year, the firm posted $0.01 EPS. As a group, equities analysts predict that Abacus Life will post 0.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Abacus Life

Institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC bought a new position in Abacus Life in the 2nd quarter worth $9,909,000. Principal Financial Group Inc. purchased a new stake in Abacus Life in the second quarter worth about $8,105,000. Point72 Asset Management L.P. bought a new position in shares of Abacus Life in the second quarter worth about $5,190,000. Mendon Capital Advisors Corp purchased a new position in shares of Abacus Life during the 2nd quarter valued at about $4,974,000. Finally, Clearbridge Investments LLC bought a new position in shares of Abacus Life during the 2nd quarter valued at approximately $4,342,000.

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.