Abacus Life, Inc. (NASDAQ:ABL) Receives $14.70 Consensus PT from Analysts

Shares of Abacus Life, Inc. (NASDAQ:ABL) have been given a consensus recommendation of “Buy” by the six research firms that are presently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $14.30.

ABL has been the topic of several analyst reports. B. Riley cut their target price on shares of Abacus Life from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Northland Capmk raised Abacus Life to a “strong-buy” rating in a research note on Thursday, October 24th. Northland Securities started coverage on Abacus Life in a report on Thursday, October 24th. They issued an “outperform” rating and a $13.50 price target for the company. Finally, Piper Sandler reiterated an “overweight” rating and set a $13.00 price objective (up previously from $12.00) on shares of Abacus Life in a report on Friday, November 8th.

Abacus Life Stock Up 2.7 %

Shares of Abacus Life stock opened at $7.11 on Tuesday. Abacus Life has a 12 month low of $6.75 and a 12 month high of $13.25. The business has a fifty day simple moving average of $8.00 and a 200 day simple moving average of $9.08. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.65. The stock has a market cap of $602.07 million, a PE ratio of -39.50 and a beta of 0.14.

Abacus Life (NASDAQ:ABL) last posted its earnings results on Thursday, November 7th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.06. The company had revenue of $28.15 million during the quarter, compared to analyst estimates of $26.08 million. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. During the same period in the previous year, the company earned $0.01 EPS. Research analysts predict that Abacus Life will post 0.64 EPS for the current year.

Insider Buying and Selling at Abacus Life

In other Abacus Life news, Director Adam Samuel Gusky purchased 18,241 shares of the stock in a transaction on Friday, November 22nd. The shares were purchased at an average cost of $7.54 per share, for a total transaction of $137,537.14. Following the purchase, the director now owns 40,959 shares of the company’s stock, valued at approximately $308,830.86. This represents a 80.29 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sean Mcnealy sold 75,800 shares of the stock in a transaction dated Friday, December 20th. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 36,367 shares of company stock valued at $279,626 and have sold 2,263,300 shares valued at $18,106,400. Company insiders own 79.20% of the company’s stock.

Institutional Trading of Abacus Life

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Richard W. Paul & Associates LLC increased its position in shares of Abacus Life by 27.8% during the 3rd quarter. Richard W. Paul & Associates LLC now owns 38,902 shares of the company’s stock worth $394,000 after purchasing an additional 8,454 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Abacus Life during the second quarter worth $106,000. Curi RMB Capital LLC raised its position in Abacus Life by 2.4% during the third quarter. Curi RMB Capital LLC now owns 550,000 shares of the company’s stock worth $5,566,000 after acquiring an additional 12,765 shares in the last quarter. Levin Capital Strategies L.P. acquired a new stake in Abacus Life in the second quarter valued at $130,000. Finally, Franklin Resources Inc. grew its position in shares of Abacus Life by 3.6% in the 3rd quarter. Franklin Resources Inc. now owns 437,733 shares of the company’s stock valued at $4,382,000 after acquiring an additional 15,308 shares during the period.

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.