Brokerages Set Abacus Life, Inc. (NASDAQ:ABL) Target Price at $14.30

Shares of Abacus Life, Inc. (NASDAQ:ABL - Get Free Report) have received a consensus recommendation of "Buy" from the five brokerages that are presently covering the stock, Marketbeat reports. Five analysts have rated the stock with a buy rating. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $14.30.

Several research firms have recently issued reports on ABL. B. Riley Financial reiterated a "buy" rating and set a $16.00 price objective on shares of Abacus Life in a research report on Friday, August 30th. TD Cowen began coverage on shares of Abacus Life in a research report on Wednesday, August 7th. They set a "buy" rating and a $14.00 price objective on the stock. Northland Securities began coverage on shares of Abacus Life in a research report on Thursday. They set an "outperform" rating and a $13.50 price objective on the stock. Piper Sandler began coverage on shares of Abacus Life in a research report on Wednesday, June 26th. They set an "overweight" rating and a $12.00 price objective on the stock. Finally, B. Riley reiterated a "buy" rating and set a $16.00 price objective (up previously from $15.00) on shares of Abacus Life in a research report on Thursday, August 29th.

Abacus Life Stock Performance

NASDAQ ABL traded up $0.31 on Thursday, reaching $9.10. 136,430 shares of the stock were exchanged, compared to its average volume of 65,173. Abacus Life has a one year low of $5.75 and a one year high of $13.25. The firm has a market capitalization of $581.72 million, a PE ratio of 455.00 and a beta of 0.12. The company's 50-day simple moving average is $9.96 and its two-hundred day simple moving average is $10.32. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.59.

Abacus Life (NASDAQ:ABL - Get Free Report) last released its earnings results on Monday, August 12th. The company reported $0.18 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.05. The company had revenue of $29.08 million for the quarter, compared to analysts' expectations of $28.57 million. Abacus Life had a negative net margin of 6.19% and a positive return on equity of 7.02%. During the same quarter last year, the business earned $0.13 EPS. Analysts expect that Abacus Life will post 0.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Richard W. Paul & Associates LLC grew its holdings in shares of Abacus Life by 4.8% in the second quarter. Richard W. Paul & Associates LLC now owns 30,448 shares of the company's stock valued at $263,000 after purchasing an additional 1,401 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Abacus Life during the second quarter worth $106,000. Levin Capital Strategies L.P. purchased a new position in Abacus Life during the second quarter worth $130,000. Quarry LP purchased a new position in Abacus Life during the second quarter worth $318,000. Finally, Sei Investments Co. purchased a new position in Abacus Life during the second quarter worth $418,000.

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.