Abacus Life (NASDAQ:ABL) Price Target Cut to $15.00

Abacus Life (NASDAQ:ABL) had its price target lowered by analysts at B. Riley Financial from $16.00 to $15.00 in a research report issued on Monday, Stock Target Advisor reports. The brokerage presently has a “buy” rating on the stock. B. Riley Financial’s target price would suggest a potential upside of 73.41% from the company’s current price.

Separately, B. Riley restated a “buy” rating and issued a $15.00 price target (down previously from $16.00) on shares of Abacus Life in a research report on Monday.

Abacus Life Trading Up 1.6 %

Shares of ABL opened at $8.65 on Monday. The firm has a market cap of $552.95 million, a P/E ratio of 432.50 and a beta of 0.17. The company has a debt-to-equity ratio of 1.03, a current ratio of 3.12 and a quick ratio of 3.12. Abacus Life has a 1 year low of $5.47 and a 1 year high of $13.25. The company has a 50 day simple moving average of $11.13 and a two-hundred day simple moving average of $11.21.

Abacus Life (NASDAQ:ABL) last posted its earnings results on Monday, May 13th. The company reported $0.11 earnings per share for the quarter. The company had revenue of $21.49 million during the quarter. Abacus Life had a net margin of 0.11% and a return on equity of 4.96%. On average, equities analysts expect that Abacus Life will post 0.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Abacus Life

Institutional investors have recently bought and sold shares of the business. Barclays PLC bought a new position in Abacus Life during the third quarter valued at $47,000. Inscription Capital LLC purchased a new position in Abacus Life in the 1st quarter worth about $137,000. Finally, Quarry LP purchased a new position in Abacus Life in the 4th quarter worth about $463,000.

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.