Analysts Set Abacus Life, Inc. (NASDAQ:ABL) PT at $14.30

Shares of Abacus Life, Inc. (NASDAQ:ABL) have been given an average recommendation of “Buy” by the six brokerages 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 price target among brokers that have issued a report on the stock in the last year is $14.30.

Separately, B. Riley cut their price objective on Abacus Life from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th.

Hedge Funds Weigh In On Abacus Life

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. bought a new stake in shares of Abacus Life in the 3rd quarter worth approximately $614,000. Geode Capital Management LLC increased its position in Abacus Life by 439.6% in the third quarter. Geode Capital Management LLC now owns 171,917 shares of the company’s stock worth $1,741,000 after buying an additional 140,054 shares during the period. Franklin Resources Inc. lifted its stake in Abacus Life by 3.6% in the third quarter. Franklin Resources Inc. now owns 437,733 shares of the company’s stock valued at $4,382,000 after buying an additional 15,308 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Abacus Life by 7.9% during the third quarter. Principal Financial Group Inc. now owns 1,011,143 shares of the company’s stock valued at $10,233,000 after acquiring an additional 74,172 shares during the period. Finally, Geneos Wealth Management Inc. bought a new position in shares of Abacus Life during the fourth quarter worth about $110,000.

Abacus Life Stock Performance

Shares of Abacus Life stock opened at $7.35 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.29 and a current ratio of 1.29. Abacus Life has a 1 year low of $6.75 and a 1 year high of $12.50. The firm’s 50-day simple moving average is $7.62 and its 200-day simple moving average is $8.33. The firm has a market cap of $710.34 million, a PE ratio of -40.83 and a beta of 0.14.

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.