Abacus Life, Inc. (NASDAQ:ABL) Receives $14.00 Consensus Price Target from Brokerages

Abacus Life, Inc. (NASDAQ:ABL - Get Free Report) has earned an average recommendation of "Buy" from the six research firms that are covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $14.00.

Several research firms have recently commented on ABL. B. Riley decreased their price objective on Abacus Life from $17.00 to $15.00 and set a "buy" rating for the company in a report on Tuesday, January 7th. Piper Sandler dropped their price target on Abacus Life from $13.00 to $11.50 and set an "overweight" rating on the stock in a report on Tuesday, April 8th.

Abacus Life Trading Down 1.1 %

Shares of Abacus Life stock traded down $0.09 on Thursday, reaching $8.06. 347,940 shares of the company's stock were exchanged, compared to its average volume of 171,054. The company has a market capitalization of $780.64 million, a P/E ratio of -44.78 and a beta of 0.16. Abacus Life has a 52 week low of $6.34 and a 52 week high of $12.45. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.29 and a current ratio of 1.29. The firm's 50-day moving average is $7.54 and its two-hundred day moving average is $7.97.

Abacus Life (NASDAQ:ABL - Get Free Report) last released its earnings results on Thursday, March 27th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.03. The company had revenue of $33.21 million for the quarter, compared to the consensus estimate of $28.76 million. Abacus Life had a negative net margin of 11.65% and a positive return on equity of 12.88%. Sell-side analysts predict that Abacus Life will post 0.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Abacus Life

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ABL. Richard W. Paul & Associates LLC lifted its holdings in Abacus Life by 7.5% during the 4th quarter. Richard W. Paul & Associates LLC now owns 41,836 shares of the company's stock worth $328,000 after purchasing an additional 2,934 shares in the last quarter. Bank of America Corp DE grew its stake in Abacus Life by 2.6% in the 4th quarter. Bank of America Corp DE now owns 161,458 shares of the company's stock worth $1,264,000 after buying an additional 4,162 shares in the last quarter. Geode Capital Management LLC increased its stake in Abacus Life by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 177,227 shares of the company's stock valued at $1,389,000 after acquiring an additional 5,310 shares during the last quarter. LPL Financial LLC increased its position in shares of Abacus Life by 31.0% during the 4th quarter. LPL Financial LLC now owns 23,288 shares of the company's stock valued at $182,000 after purchasing an additional 5,507 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its position in Abacus Life by 2.5% during the fourth quarter. Point72 Asset Management L.P. now owns 323,432 shares of the company's stock valued at $2,532,000 after acquiring an additional 7,838 shares during the last quarter.

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.