Abacus Life, Inc. (NASDAQ:ABL) Receives $14.00 Average Target Price from Brokerages

Abacus Life, Inc. (NASDAQ:ABL - Get Free Report) has been assigned a consensus recommendation of "Buy" from the six ratings firms that are presently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $14.00.

ABL has been the topic of a number of recent analyst reports. B. Riley decreased their price target on Abacus Life from $17.00 to $15.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th. Piper Sandler lowered their target price on shares of Abacus Life from $13.00 to $11.50 and set an "overweight" rating on the stock in a report on Tuesday, April 8th.

Institutional Investors Weigh In On Abacus Life

A number of hedge funds have recently bought and sold shares of the business. Geneos Wealth Management Inc. bought a new stake in shares of Abacus Life in the 4th quarter worth about $110,000. Squarepoint Ops LLC bought a new stake in Abacus Life during the fourth quarter worth approximately $113,000. JPMorgan Chase & Co. raised its position in Abacus Life by 640.9% during 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 period. LPL Financial LLC lifted its stake 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 valued at $182,000 after purchasing an additional 5,507 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Abacus Life during the 4th quarter valued at approximately $193,000.

Abacus Life Stock Performance

Shares of Abacus Life stock traded up $0.13 on Thursday, hitting $8.15. 680,860 shares of the company's stock were exchanged, compared to its average volume of 169,715. Abacus Life has a 1 year low of $6.34 and a 1 year high of $12.45. The company has a 50-day simple moving average of $7.53 and a 200-day simple moving average of $8.00. 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 $789.35 million, a PE ratio of -45.28 and a beta of 0.16.

Abacus Life (NASDAQ:ABL - Get Free Report) last announced 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. The company had revenue of $33.21 million during the quarter, compared to the consensus estimate of $28.76 million. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. As a group, equities analysts anticipate that Abacus Life will post 0.62 EPS for the current year.

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.