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

Abacus Life, Inc. (NASDAQ:ABL) has earned a consensus rating of “Buy” from the six analysts that are presently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $14.30.

A number of analysts have recently weighed in on ABL shares. Northland Securities began coverage on Abacus Life in a research note on Thursday, October 24th. They issued an “outperform” rating and a $13.50 target price for the company. Piper Sandler reissued an “overweight” rating and issued a $13.00 price target (up previously from $12.00) on shares of Abacus Life in a report on Friday, November 8th. B. Riley decreased their price objective on Abacus Life from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Finally, Northland Capmk raised Abacus Life to a “strong-buy” rating in a research note on Thursday, October 24th.

Abacus Life Price Performance

Shares of Abacus Life stock opened at $7.63 on Friday. Abacus Life has a 1-year low of $6.75 and a 1-year high of $13.25. The firm’s 50-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. The stock has a market capitalization of $737.36 million, a price-to-earnings ratio of -42.39 and a beta of 0.14.

Abacus Life (NASDAQ:ABL) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. The firm had revenue of $28.15 million during the quarter, compared to analysts’ expectations 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 last year, the firm posted $0.01 EPS. On average, equities analysts predict that Abacus Life will post 0.62 earnings per share for the current fiscal year.

Insider Transactions at Abacus Life

In related news, insider Sean Mcnealy sold 75,800 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $8.00, for a total value of $606,400.00. Following the completion of the sale, the insider now owns 12,361,500 shares in the company, valued at $98,892,000. This represents a 0.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Adam Samuel Gusky bought 18,241 shares of Abacus Life stock in a transaction on Friday, November 22nd. The shares were acquired at an average price of $7.54 per share, for a total transaction of $137,537.14. Following the completion of the acquisition, 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 position. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 36,367 shares of company stock worth $279,626 and have sold 2,263,300 shares worth $18,106,400. 79.20% of the stock is owned by corporate insiders.

Institutional Trading of Abacus Life

Several hedge funds have recently bought and sold shares of ABL. Clearbridge Investments LLC bought a new stake in shares of Abacus Life during the second quarter worth $4,342,000. Stieven Capital Advisors L.P. boosted its stake in Abacus Life by 128.2% in the 4th quarter. Stieven Capital Advisors L.P. now owns 741,810 shares of the company’s stock worth $5,808,000 after purchasing an additional 416,800 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Abacus Life by 23.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,399,204 shares of the company’s stock worth $10,830,000 after purchasing an additional 263,036 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Abacus Life by 439.6% in the 3rd quarter. Geode Capital Management LLC now owns 171,917 shares of the company’s stock valued at $1,741,000 after purchasing an additional 140,054 shares during the period. Finally, Royce & Associates LP raised its stake in shares of Abacus Life by 35.0% in the 3rd quarter. Royce & Associates LP now owns 297,000 shares of the company’s stock valued at $3,006,000 after purchasing an additional 77,000 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.