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

Abacus Life, Inc. (NASDAQ:ABL) has been assigned a consensus rating of “Buy” from the six ratings firms that are presently covering the firm, Marketbeat 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 1-year price target among brokers that have updated their coverage on the stock in the last year is $14.30.

Separately, B. Riley lowered their price objective on shares of Abacus Life from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Geneos Wealth Management Inc. bought a new stake in Abacus Life during the fourth quarter valued at about $110,000. Squarepoint Ops LLC purchased a new position in Abacus Life in the 4th quarter worth approximately $113,000. JPMorgan Chase & Co. boosted its stake in Abacus Life by 640.9% in the 4th quarter. JPMorgan Chase & Co. now owns 16,670 shares of the company’s stock worth $131,000 after purchasing an additional 14,420 shares during the period. LPL Financial LLC raised its position in shares of Abacus Life by 31.0% during the fourth quarter. LPL Financial LLC now owns 23,288 shares of the company’s stock valued at $182,000 after buying an additional 5,507 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Abacus Life in the fourth quarter worth $193,000.

Abacus Life Stock Up 6.6 %

Shares of Abacus Life stock opened at $7.62 on Friday. Abacus Life has a twelve month low of $6.75 and a twelve month high of $12.50. 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 company’s 50 day moving average is $7.62 and its 200 day moving average is $8.29. The company has a market cap of $736.43 million, a price-to-earnings ratio of -42.33 and a beta of 0.14.

Abacus Life (NASDAQ:ABL) last released its quarterly earnings results on Thursday, March 27th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. The firm had revenue of $33.21 million for the quarter, compared to the consensus estimate of $28.76 million. Research analysts anticipate that Abacus Life will post 0.62 EPS for the current year.

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.