Abacus Life, Inc. (NASDAQ:ABL) Given Consensus Recommendation of "Buy" by Analysts

Shares of Abacus Life, Inc. (NASDAQ:ABL - Get Free Report) have earned an average rating of "Buy" from the seven analysts that are presently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $14.08.

Several analysts have issued reports on ABL shares. Piper Sandler upped their price target on shares of Abacus Life from $11.50 to $12.00 and gave the company an "overweight" rating in a report on Friday. Maxim Group assumed coverage on shares of Abacus Life in a research report on Tuesday, April 29th. They set a "buy" rating and a $14.00 price target for the company.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Geneos Wealth Management Inc. purchased a new position in shares of Abacus Life in the fourth quarter valued at $110,000. Squarepoint Ops LLC purchased a new position in shares of Abacus Life in the fourth quarter valued at $113,000. JPMorgan Chase & Co. boosted its stake in shares of Abacus Life by 640.9% in the fourth quarter. JPMorgan Chase & Co. now owns 16,670 shares of the company's stock valued at $131,000 after purchasing an additional 14,420 shares during the period. LPL Financial LLC boosted its stake in shares of Abacus Life by 31.0% in the fourth 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 period. Finally, XTX Topco Ltd bought a new position in Abacus Life during the 4th quarter valued at $193,000.

Abacus Life Stock Performance

NASDAQ ABL traded up $0.13 during trading on Monday, reaching $8.83. The company's stock had a trading volume of 640,848 shares, compared to its average volume of 194,671. The firm has a market cap of $855.21 million, a price-to-earnings ratio of -49.05 and a beta of 0.14. The business's fifty day moving average price is $7.78 and its 200-day moving average price is $7.85. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.29 and a current ratio of 1.29. Abacus Life has a twelve month low of $6.34 and a twelve month high of $12.40.

Abacus Life (NASDAQ:ABL - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.18 EPS for the quarter, topping analysts' consensus estimates of $0.16 by $0.02. The firm had revenue of $44.14 million for the quarter, compared to the consensus estimate of $39.51 million. Abacus Life had a negative net margin of 11.65% and a positive return on equity of 12.88%. As a group, analysts anticipate that Abacus Life will post 0.62 EPS for the current fiscal year.

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.