Analysts Set Abacus Life, Inc. (NASDAQ:ABL) Target Price at $14.50

Abacus Life, Inc. (NASDAQ:ABL) has been assigned an average recommendation of “Buy” from the six analysts that are presently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $14.50.

Several analysts have recently weighed in on the stock. B. Riley reissued a “buy” rating and issued a $16.00 price target (up previously from $15.00) on shares of Abacus Life in a research note on Thursday, August 29th. TD Cowen initiated coverage on Abacus Life in a research note on Wednesday, August 7th. They issued a “buy” rating and a $14.00 price objective for the company. Northland Capmk raised Abacus Life to a “strong-buy” rating in a research report on Thursday, October 24th. Piper Sandler reiterated an “overweight” rating and set a $13.00 target price (up from $12.00) on shares of Abacus Life in a research note on Friday, November 8th. Finally, Northland Securities initiated coverage on shares of Abacus Life in a research note on Thursday, October 24th. They issued an “outperform” rating and a $13.50 price target on the stock.

Abacus Life Price Performance

NASDAQ:ABL opened at $8.86 on Monday. Abacus Life has a 1 year low of $6.22 and a 1 year high of $13.25. 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 business has a 50 day simple moving average of $9.38 and a 200-day simple moving average of $9.88. The firm has a market capitalization of $661.40 million, a price-to-earnings ratio of -49.22 and a beta of 0.15.

Abacus Life (NASDAQ:ABL) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. The firm had revenue of $28.15 million during the quarter, compared to analyst estimates of $26.08 million. During the same quarter in the previous year, the business earned $0.01 earnings per share. Equities analysts forecast that Abacus Life will post 0.6 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ABL. Allspring Global Investments Holdings LLC purchased a new stake in shares of Abacus Life in the 2nd quarter worth about $9,909,000. Principal Financial Group Inc. increased its position 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 valued at $10,233,000 after purchasing an additional 74,172 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Abacus Life during the second quarter valued at about $5,190,000. Curi RMB Capital LLC increased its stake in shares of Abacus Life by 2.4% in the third quarter. Curi RMB Capital LLC now owns 550,000 shares of the company’s stock worth $5,566,000 after purchasing an additional 12,765 shares in the last quarter. Finally, Mendon Capital Advisors Corp bought a new stake in Abacus Life during the 2nd quarter valued at approximately $4,974,000.

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.