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

Abacus Life, Inc. (NASDAQ:ABL) has been given a consensus recommendation of “Buy” by the six analysts that are currently covering the company, Marketbeat 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 1-year target price among brokerages that have issued ratings on the stock in the last year is $14.30.

Separately, B. Riley reduced their price target on Abacus Life from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th.

Abacus Life Price Performance

Shares of Abacus Life stock opened at $7.62 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.29. Abacus Life has a one year low of $6.75 and a one year high of $12.50. The business’s 50 day simple moving average is $7.62 and its two-hundred day simple moving average is $8.29. The stock has a market capitalization of $736.43 million, a P/E ratio of -42.33 and a beta of 0.14.

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

Hedge Funds Weigh In On Abacus Life

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. bought a new position in Abacus Life during the 3rd quarter valued at approximately $614,000. Geode Capital Management LLC boosted its stake in Abacus Life by 439.6% in the 3rd quarter. Geode Capital Management LLC now owns 171,917 shares of the company’s stock worth $1,741,000 after purchasing an additional 140,054 shares in the last quarter. Franklin Resources Inc. grew its position in Abacus Life by 3.6% during the 3rd quarter. Franklin Resources Inc. now owns 437,733 shares of the company’s stock valued at $4,382,000 after purchasing an additional 15,308 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Abacus Life by 7.9% in the third quarter. Principal Financial Group Inc. now owns 1,011,143 shares of the company’s stock worth $10,233,000 after buying an additional 74,172 shares during the last quarter. Finally, Geneos Wealth Management Inc. bought a new position in shares of Abacus Life in the fourth quarter worth approximately $110,000.

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.