Abacus Life, Inc. (NASDAQ:ABL - Get Free Report) has been given an average rating of "Buy" by the six research firms that are covering the company, Marketbeat reports. Five equities research 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 updated their coverage on the stock in the last year is $14.30.
Separately, B. Riley reduced their price objective on shares of Abacus Life from $17.00 to $15.00 and set a "buy" rating for the company in a research report on Tuesday, January 7th.
View Our Latest Stock Analysis on Abacus Life
Abacus Life Trading Down 1.9 %
NASDAQ ABL traded down $0.14 during trading hours on Friday, hitting $7.21. 183,015 shares of the company's stock were exchanged, compared to its average volume of 137,351. The firm has a market cap of $696.81 million, a price-to-earnings ratio of -40.05 and a beta of 0.14. The stock has a 50-day simple moving average of $7.62 and a 200 day simple moving average of $8.33. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.65. Abacus Life has a 1-year low of $6.75 and a 1-year high of $12.50.
Hedge Funds Weigh In On Abacus Life
A number of institutional investors have recently modified their holdings of the company. Alyeska Investment Group L.P. increased its stake in Abacus Life by 116.5% during the 4th quarter. Alyeska Investment Group L.P. now owns 2,540,790 shares of the company's stock valued at $19,894,000 after purchasing an additional 1,367,210 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Abacus Life by 23.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,399,204 shares of the company's stock valued at $10,830,000 after buying an additional 263,036 shares during the last quarter. Royce & Associates LP increased its position in shares of Abacus Life by 339.9% during the fourth quarter. Royce & Associates LP now owns 1,306,431 shares of the company's stock worth $10,229,000 after acquiring an additional 1,009,431 shares in the last quarter. Mendon Capital Advisors Corp raised its holdings in shares of Abacus Life by 137.1% in the 4th quarter. Mendon Capital Advisors Corp now owns 1,303,826 shares of the company's stock worth $10,209,000 after acquiring an additional 753,826 shares during the last quarter. Finally, Curi RMB Capital LLC lifted its position in Abacus Life by 110.7% in the 4th quarter. Curi RMB Capital LLC now owns 1,159,000 shares of the company's stock valued at $9,075,000 after acquiring an additional 609,000 shares in the last quarter.
About Abacus Life
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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.
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