Abacus Life (NASDAQ:ABL) Price Target Raised to $17.00

Abacus Life (NASDAQ:ABL) had its target price hoisted by B. Riley from $16.00 to $17.00 in a report issued on Monday morning,Benzinga reports. B. Riley currently has a buy rating on the stock. B. Riley also issued estimates for Abacus Life’s Q4 2024 earnings at $0.18 EPS, FY2024 earnings at $0.66 EPS, Q1 2025 earnings at $0.25 EPS, Q2 2025 earnings at $0.26 EPS, Q3 2025 earnings at $0.27 EPS, Q4 2025 earnings at $0.27 EPS, FY2025 earnings at $1.05 EPS, Q1 2026 earnings at $0.36 EPS, Q2 2026 earnings at $0.38 EPS, Q3 2026 earnings at $0.40 EPS and FY2026 earnings at $1.56 EPS.

Several other equities research analysts have also recently issued reports on ABL. TD Cowen assumed coverage on Abacus Life in a research note on Wednesday, August 7th. They set a “buy” rating and a $14.00 target price for the company. B. Riley Financial reissued a “buy” rating and set a $16.00 target price on shares of Abacus Life in a research note on Friday, August 30th. Piper Sandler reissued an “overweight” rating and set a $13.00 target price (up previously from $12.00) on shares of Abacus Life in a research note on Friday, November 8th. Northland Securities assumed coverage on Abacus Life in a research note on Thursday, October 24th. They set an “outperform” rating and a $13.50 target price for the company. Finally, Northland Capmk raised Abacus Life to a “strong-buy” rating in a research note on Thursday, October 24th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $14.70.

Abacus Life Price Performance

NASDAQ:ABL opened at $8.08 on Monday. Abacus Life has a one year low of $6.56 and a one 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 has a market cap of $603.17 million, a PE ratio of -43.44 and a beta of 0.15. The stock has a 50 day moving average price of $9.22 and a 200 day moving average price of $9.75.

Abacus Life (NASDAQ:ABL) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.20 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $26.08 million. During the same quarter last year, the firm earned $0.01 earnings per share. Equities research analysts expect that Abacus Life will post 0.64 EPS for the current fiscal year.

Insider Transactions at Abacus Life

In related news, insider Matthew Ganovsky sold 156,250 shares of Abacus Life stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $8.00, for a total value of $1,250,000.00. Following the completion of the transaction, the insider now directly owns 10,847,047 shares in the company, valued at approximately $86,776,376. This trade represents a 1.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Adam Samuel Gusky bought 18,241 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was bought at an average price of $7.54 per share, with a total value of $137,537.14. Following the completion of the acquisition, the director now owns 40,959 shares of the company’s stock, valued at $308,830.86. This trade represents a 80.29 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 79.20% of the company’s stock.

Institutional Trading of Abacus Life

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Richard W. Paul & Associates LLC increased its position in Abacus Life by 4.8% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 30,448 shares of the company’s stock valued at $263,000 after acquiring an additional 1,401 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Abacus Life in the 2nd quarter valued at about $9,909,000. Principal Financial Group Inc. purchased a new stake in Abacus Life in the 2nd quarter valued at approximately $8,105,000. Stieven Capital Advisors L.P. purchased a new stake in Abacus Life in the 2nd quarter valued at approximately $2,811,000. Finally, Levin Capital Strategies L.P. purchased a new stake in Abacus Life in the 2nd quarter valued at approximately $130,000.

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.