Analysts Set Abacus Life, Inc. (NASDAQ:ABL) Target Price at $14.30

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

Several equities analysts recently weighed in on ABL shares. Piper Sandler reissued an “overweight” rating and issued a $13.00 target price (up from $12.00) on shares of Abacus Life in a research note on Friday, November 8th. Northland Capmk raised shares of Abacus Life to a “strong-buy” rating in a report on Thursday, October 24th. Northland Securities started coverage on Abacus Life in a report on Thursday, October 24th. They set an “outperform” rating and a $13.50 price target for the company. Finally, B. Riley dropped their price objective 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.

Insider Buying and Selling

In other Abacus Life news, CEO Jay J. Jackson sold 2,031,250 shares of the 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 transaction, the chief executive officer now owns 10,562,000 shares in the company, valued at $84,496,000. This trade represents a 16.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 sale, the insider now directly owns 10,847,047 shares of the company’s stock, valued at $86,776,376. This represents a 1.42 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 36,367 shares of company stock valued at $279,626 and sold 2,263,300 shares valued at $18,106,400. 79.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Abacus Life

A number of hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC acquired a new position in Abacus Life in the 2nd quarter valued at $106,000. Geneos Wealth Management Inc. acquired a new position in Abacus Life in the fourth quarter valued at about $110,000. Richard W. Paul & Associates LLC lifted its position in Abacus Life by 27.8% during the third 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 period. Sei Investments Co. acquired a new stake in Abacus Life during the second quarter worth about $418,000. Finally, Charles Schwab Investment Management Inc. bought a new position in Abacus Life in the 3rd quarter valued at about $614,000.

Abacus Life Stock Down 2.1 %

Shares of ABL stock opened at $7.63 on Friday. The firm’s fifty day moving average price is $7.72 and its two-hundred day moving average price is $8.94. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.65. Abacus Life has a 1 year low of $6.75 and a 1 year high of $13.25. The firm has a market capitalization of $737.36 million, a P/E ratio of -42.39 and a beta of 0.14.

Abacus Life (NASDAQ:ABL) last released 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 business had revenue of $28.15 million for 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 quarter in the prior year, the company posted $0.01 earnings per share. On average, equities analysts predict that Abacus Life will post 0.62 EPS for the current fiscal year.

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.