Abacus Life (NASDAQ:ABL) Price Target Cut to $15.00 by Analysts at B. Riley

Abacus Life (NASDAQ:ABL - Free Report) had its price target decreased by B. Riley from $17.00 to $15.00 in a research report released on Tuesday,Benzinga reports. B. Riley currently has a buy rating on the stock.

Several other equities research analysts have also recently weighed in on ABL. Northland Capmk upgraded shares of Abacus Life to a "strong-buy" rating in a research report on Thursday, October 24th. Piper Sandler restated an "overweight" rating and issued a $13.00 price objective (up previously from $12.00) on shares of Abacus Life in a research report on Friday, November 8th. Finally, Northland Securities initiated coverage on Abacus Life in a research report on Thursday, October 24th. They issued an "outperform" rating and a $13.50 price objective on the stock. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $14.30.

Abacus Life Price Performance

NASDAQ ABL traded down $0.16 during trading on Tuesday, reaching $7.56. 167,773 shares of the company traded hands, compared to its average volume of 137,393. Abacus Life has a 1-year low of $7.07 and a 1-year high of $13.25. 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's 50 day moving average price is $8.08 and its two-hundred day moving average price is $9.11. The company has a market cap of $640.17 million, a price-to-earnings ratio of -42.00 and a beta of 0.14.

Abacus Life (NASDAQ:ABL - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.20 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $26.08 million. During the same period in the previous year, the business earned $0.01 earnings per share. As a group, analysts anticipate that Abacus Life will post 0.64 EPS for the current year.

Insider Buying and Selling at Abacus Life

In related news, CEO Jay J. Jackson sold 2,031,250 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 10,562,000 shares in the company, valued at $84,496,000. This trade represents a 16.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Sean Mcnealy sold 75,800 shares of the business's stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $8.00, for a total transaction of $606,400.00. Following the transaction, the insider now owns 12,361,500 shares of the company's stock, valued at approximately $98,892,000. This represents a 0.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 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 have recently modified their holdings of the company. Renaissance Technologies LLC bought a new stake in Abacus Life during the 2nd quarter worth about $106,000. Levin Capital Strategies L.P. bought a new stake in Abacus Life during the second quarter worth about $130,000. Quarry LP acquired a new position in Abacus Life during the second quarter valued at approximately $318,000. Richard W. Paul & Associates LLC grew its stake in Abacus Life by 27.8% in the third quarter. Richard W. Paul & Associates LLC now owns 38,902 shares of the company's stock valued at $394,000 after purchasing an additional 8,454 shares in the last quarter. Finally, Sei Investments Co. acquired a new position in shares of Abacus Life during the 2nd quarter worth approximately $418,000.

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.