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

Shares of Abacus Life, Inc. (NASDAQ:ABL) have earned a consensus recommendation of “Buy” from the six research firms that are presently covering the company, MarketBeat reports. Five analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $14.30.

ABL has been the subject of a number of recent research reports. Northland Capmk upgraded shares of Abacus Life to a “strong-buy” rating in a research note on Thursday, October 24th. Northland Securities assumed coverage on Abacus Life in a report on Thursday, October 24th. They set an “outperform” rating and a $13.50 price target on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $13.00 price objective (up from $12.00) on shares of Abacus Life in a research note on Friday, November 8th. Finally, B. Riley lowered their target price on Abacus Life from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th.

Abacus Life Trading Down 1.5 %

NASDAQ:ABL opened at $7.81 on Friday. The company has a market capitalization of $754.76 million, a PE ratio of -43.39 and a beta of 0.14. Abacus Life has a 52-week low of $6.75 and a 52-week high of $12.65. The stock’s 50 day moving average price is $7.71 and its 200 day moving average price is $8.93. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.65.

Abacus Life (NASDAQ:ABL) last announced its earnings results on Thursday, November 7th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. The business had revenue of $28.15 million for the quarter, compared to analyst estimates of $26.08 million. Abacus Life had a negative net margin of 11.65% and a positive return on equity of 12.88%. During the same period last year, the firm posted $0.01 earnings per share. On average, research analysts anticipate that Abacus Life will post 0.62 EPS for the current year.

Insider Activity at Abacus Life

In other Abacus Life news, Director Adam Samuel Gusky bought 6,000 shares of Abacus Life stock in a transaction on Monday, December 9th. The stock was bought at an average price of $7.94 per share, with a total value of $47,640.00. Following the completion of the acquisition, the director now owns 49,085 shares in the company, valued at $389,734.90. The trade was a 13.93 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jay J. Jackson sold 2,031,250 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $8.00, for a total transaction of $16,250,000.00. Following the sale, the chief executive officer now owns 10,562,000 shares in the company, valued at $84,496,000. The trade was a 16.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 36,367 shares of company stock worth $279,626 and sold 2,263,300 shares worth $18,106,400. 79.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Abacus Life

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC acquired a new stake in shares of Abacus Life in the 2nd quarter worth approximately $106,000. Sei Investments Co. acquired a new stake in Abacus Life in the second quarter valued at $418,000. Clearbridge Investments LLC purchased a new position in shares of Abacus Life in the second quarter valued at $4,342,000. Richard W. Paul & Associates LLC raised its stake 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 buying an additional 8,454 shares during the last quarter. Finally, Evernest Financial Advisors LLC purchased a new stake in shares of Abacus Life in the 3rd quarter worth about $681,000.

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.