Analysts Set Abacus Life, Inc. (NASDAQ:ABL) Target Price at $14.00

by · The Markets Daily

Abacus Life, Inc. (NASDAQ:ABL – Get Free Report) has received an average rating of “Buy” from the six brokerages that are presently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $14.00.

ABL has been the subject of a number of research analyst reports. Piper Sandler dropped their price objective on shares of Abacus Life from $13.00 to $11.50 and set an “overweight” rating for the company in a report on Tuesday, April 8th. B. Riley dropped their price target on Abacus Life from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th.

Read Our Latest Stock Analysis on Abacus Life

Institutional Trading of Abacus Life

Institutional investors have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. purchased a new position in shares of Abacus Life in the fourth quarter worth about $110,000. Squarepoint Ops LLC bought a new stake in Abacus Life in the fourth quarter valued at approximately $113,000. JPMorgan Chase & Co. lifted its position in Abacus Life by 640.9% in the fourth 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 boosted its stake in shares of Abacus Life by 31.0% during the fourth quarter. LPL Financial LLC now owns 23,288 shares of the company’s stock valued at $182,000 after purchasing an additional 5,507 shares during the period. Finally, XTX Topco Ltd bought a new position in shares of Abacus Life in the fourth quarter worth approximately $193,000.

Abacus Life Stock Performance

NASDAQ:ABL opened at $8.30 on Thursday. The stock has a market cap of $803.88 million, a P/E ratio of -46.11 and a beta of 0.16. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.65. The business’s 50-day moving average price is $7.56 and its two-hundred day moving average price is $7.97. Abacus Life has a twelve month low of $6.34 and a twelve month high of $12.45.

Abacus Life (NASDAQ:ABL – Get Free Report) last announced its earnings results on Thursday, March 27th. The company reported $0.16 earnings per share 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. As a group, equities analysts predict that Abacus Life will post 0.62 EPS for the current fiscal year.

Abacus Life Company Profile

(Get Free Report

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.

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