Analysts Set Abacus Life, Inc. (NASDAQ:ABL) Target Price at $14.50

Shares of Abacus Life, Inc. (NASDAQ:ABL) have been given an average rating of “Buy” by the six research firms that are currently covering the stock, 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 twelve-month target price among brokers that have covered the stock in the last year is $14.50.

ABL has been the topic of a number of recent analyst reports. TD Cowen began coverage on shares of Abacus Life in a research note on Wednesday, August 7th. They issued a “buy” rating and a $14.00 target price on the stock. B. Riley Financial reaffirmed a “buy” rating and set a $16.00 target price on shares of Abacus Life in a report on Friday, August 30th. Northland Capmk raised Abacus Life to a “strong-buy” rating in a research report on Thursday, October 24th. Piper Sandler reaffirmed an “overweight” rating and issued a $13.00 price objective (up previously from $12.00) on shares of Abacus Life in a report on Friday, November 8th. Finally, Northland Securities initiated coverage on shares of Abacus Life in a report on Thursday, October 24th. They set an “outperform” rating and a $13.50 target price on the stock.

Abacus Life Price Performance

Shares of NASDAQ ABL opened at $7.55 on Monday. The business has a 50 day moving average price of $9.30 and a two-hundred day moving average price of $9.81. Abacus Life has a fifty-two week low of $6.56 and a fifty-two week high of $13.25. The firm has a market cap of $563.61 million, a PE ratio of -41.94 and a beta of 0.15. 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 issued its quarterly 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. Abacus Life had a negative net margin of 11.65% and a positive return on equity of 12.88%. The business had revenue of $28.15 million during the quarter, compared to analyst estimates of $26.08 million. During the same quarter in the previous year, the firm earned $0.01 earnings per share. Sell-side analysts expect that Abacus Life will post 0.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Abacus Life

Several large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its position in shares of Abacus Life by 439.6% during the third quarter. Geode Capital Management LLC now owns 171,917 shares of the company’s stock worth $1,741,000 after acquiring an additional 140,054 shares during the last quarter. Charles Schwab Investment Management Inc. bought a new stake in Abacus Life in the 3rd quarter valued at about $614,000. Royce & Associates LP boosted its stake in Abacus Life by 35.0% during 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. Curi RMB Capital LLC grew its position in Abacus Life by 2.4% in the 3rd quarter. Curi RMB Capital LLC now owns 550,000 shares of the company’s stock worth $5,566,000 after purchasing an additional 12,765 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Abacus Life by 7.9% in the third quarter. Principal Financial Group Inc. now owns 1,011,143 shares of the company’s stock valued at $10,233,000 after purchasing an additional 74,172 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.