Shares of Abacus Life, Inc. (NASDAQ:ABL - Get Free Report) have earned a consensus rating of "Buy" from the six ratings firms that are presently covering the stock, 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 objective among analysts that have issued a report on the stock in the last year is $14.30.
ABL has been the topic of several research reports. Northland Securities initiated coverage on Abacus Life in a research report on Thursday, October 24th. They issued an "outperform" rating and a $13.50 target price on the stock. Piper Sandler reissued an "overweight" rating and issued a $13.00 price objective (up previously from $12.00) on shares of Abacus Life in a report on Friday, November 8th. Northland Capmk raised shares of Abacus Life to a "strong-buy" rating in a report on Thursday, October 24th. Finally, B. Riley decreased their price target on shares of Abacus Life from $17.00 to $15.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th.
View Our Latest Research Report on Abacus Life
Abacus Life Stock Performance
NASDAQ ABL traded up $0.12 during trading hours on Friday, hitting $7.79. The company's stock had a trading volume of 291,489 shares, compared to its average volume of 214,013. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market cap of $752.83 million, a P/E ratio of -43.28 and a beta of 0.14. The company's 50 day simple moving average is $7.73 and its two-hundred day simple moving average is $8.95. Abacus Life has a 12 month low of $6.75 and a 12 month high of $13.25.
Abacus Life (NASDAQ:ABL - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.20 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.06. Abacus Life had a negative net margin of 11.65% and a positive return on equity of 12.88%. The firm had revenue of $28.15 million during the quarter, compared to analyst estimates of $26.08 million. During the same period in the previous year, the business posted $0.01 earnings per share. As a group, sell-side analysts expect that Abacus Life will post 0.62 EPS for the current fiscal year.
Insider Buying and Selling at Abacus Life
In related news, Director Adam Samuel Gusky acquired 18,241 shares of Abacus Life stock in a transaction dated Friday, November 22nd. The shares were purchased at an average price of $7.54 per share, for a total transaction of $137,537.14. Following the completion of the transaction, the director now directly owns 40,959 shares in the company, valued at approximately $308,830.86. This represents a 80.29 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jay J. Jackson sold 2,031,250 shares of the company's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $8.00, for a total transaction of $16,250,000.00. Following the transaction, the chief executive officer now owns 10,562,000 shares of the company's stock, valued at approximately $84,496,000. This represents a 16.13 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 36,367 shares of company stock valued at $279,626 and have sold 2,263,300 shares valued at $18,106,400. Insiders own 79.20% of the company's stock.
Institutional Trading of Abacus Life
Institutional investors and hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. raised its holdings in shares of Abacus Life by 7.9% during the 3rd quarter. Principal Financial Group Inc. now owns 1,011,143 shares of the company's stock worth $10,233,000 after acquiring an additional 74,172 shares in the last quarter. Evernest Financial Advisors LLC purchased a new stake in Abacus Life during the third quarter valued at $681,000. Charles Schwab Investment Management Inc. bought a new position in Abacus Life during the third quarter valued at $614,000. Geode Capital Management LLC grew its stake in shares of Abacus Life by 439.6% in the 3rd 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 in the last quarter. Finally, Royce & Associates LP increased its holdings in shares of Abacus Life by 35.0% in the 3rd quarter. Royce & Associates LP now owns 297,000 shares of the company's stock worth $3,006,000 after buying an additional 77,000 shares during the last quarter.
About Abacus Life
(
Get Free ReportAbacus 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.
See Also
Before you consider Abacus Life, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Abacus Life wasn't on the list.
While Abacus Life currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
