Abacus Life, Inc. (NASDAQ:ABL) Receives $14.70 Average Price Target from Analysts

Shares of Abacus Life, Inc. (NASDAQ:ABL - Get Free Report) have been assigned a consensus recommendation of "Buy" from the six analysts that are covering the company, Marketbeat reports. Five 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 objective among analysts that have covered the stock in the last year is $14.70.

Several research firms have weighed in on ABL. Northland Securities began coverage on shares of Abacus Life in a report on Thursday, October 24th. They issued an "outperform" rating and a $13.50 target price on the stock. Piper Sandler reiterated 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 raised their target price on Abacus Life from $16.00 to $17.00 and gave the stock a "buy" rating in a research note on Monday, November 25th. B. Riley Financial reaffirmed a "buy" rating and issued a $16.00 price target on shares of Abacus Life in a research note on Friday, August 30th. Finally, Northland Capmk raised Abacus Life to a "strong-buy" rating in a research report on Thursday, October 24th.

Abacus Life Price Performance

Shares of NASDAQ ABL traded up $0.05 during trading on Friday, hitting $7.94. The company had a trading volume of 97,806 shares, compared to its average volume of 89,270. Abacus Life has a fifty-two week low of $7.07 and a fifty-two week high of $13.25. The stock has a fifty day simple moving average of $8.67 and a two-hundred day simple moving average of $9.47. 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 firm has a market capitalization of $672.36 million, a price-to-earnings ratio of -44.11 and a beta of 0.13.

Abacus Life (NASDAQ:ABL - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.14 by $0.06. The firm had revenue of $28.15 million during the quarter, compared to analysts' expectations of $26.08 million. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. During the same quarter last year, the firm earned $0.01 earnings per share. On average, research analysts expect that Abacus Life will post 0.64 earnings per share for the current year.

Insider Activity

In other Abacus Life news, CEO Jay J. Jackson sold 2,031,250 shares of the business's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $8.00, for a total value of $16,250,000.00. Following the completion of the transaction, the chief executive officer now owns 10,562,000 shares in the company, valued at $84,496,000. The trade was a 16.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Adam Samuel Gusky acquired 6,000 shares of Abacus Life stock in a transaction dated Monday, December 9th. The stock was bought at an average price of $7.94 per share, for a total transaction of $47,640.00. Following the completion of the purchase, the director now owns 49,085 shares of the company's stock, valued at approximately $389,734.90. This represents a 13.93 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 26,367 shares of company stock valued at $202,036. 79.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ABL. Allspring Global Investments Holdings LLC purchased a new stake in shares of Abacus Life in the 2nd quarter valued at approximately $9,909,000. Principal Financial Group Inc. acquired a new position in shares of Abacus Life during the second quarter worth $8,105,000. Point72 Asset Management L.P. purchased a new position in Abacus Life in the second quarter valued at $5,190,000. Mendon Capital Advisors Corp acquired a new stake in Abacus Life in the second quarter valued at $4,974,000. Finally, Clearbridge Investments LLC purchased a new stake in Abacus Life during the 2nd quarter worth about $4,342,000.

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.