Analysts Set Abacus Life, Inc. (NASDAQ:ABL) PT at $14.08

Shares of Abacus Life, Inc. (NASDAQ:ABL - Get Free Report) have earned an average recommendation of "Buy" from the seven brokerages that are currently covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $13.75.

Several equities research analysts recently weighed in on the stock. Maxim Group started 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. Piper Sandler reduced their target price on Abacus Life from $12.00 to $10.00 and set an "overweight" rating for the company in a report on Wednesday.

Institutional Investors Weigh In On Abacus Life

Hedge funds have recently added to or reduced their stakes in the stock. Royce & Associates LP grew its holdings in shares of Abacus Life by 339.9% in the fourth quarter. Royce & Associates LP now owns 1,306,431 shares of the company's stock worth $10,229,000 after acquiring an additional 1,009,431 shares during the period. Sei Investments Co. boosted its position in Abacus Life by 38.8% in the fourth quarter. Sei Investments Co. now owns 81,525 shares of the company's stock worth $638,000 after purchasing an additional 22,783 shares during the last quarter. LPL Financial LLC grew its stake 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 period. JPMorgan Chase & Co. increased its position in shares of Abacus Life by 640.9% during the 4th 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 last quarter. Finally, Clearbridge Investments LLC increased its position in shares of Abacus Life by 24.0% during the 4th quarter. Clearbridge Investments LLC now owns 645,712 shares of the company's stock valued at $5,056,000 after purchasing an additional 124,792 shares during the last quarter.

Abacus Life Stock Up 0.5%

Shares of NASDAQ ABL traded up $0.03 during trading on Tuesday, reaching $5.36. The company had a trading volume of 503,382 shares, compared to its average volume of 364,465. Abacus Life has a 12-month low of $4.60 and a 12-month high of $11.86. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.55. The business's 50-day moving average is $7.14 and its 200 day moving average is $7.45. The stock has a market cap of $519.02 million and a PE ratio of -23.30.

Abacus Life (NASDAQ:ABL - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.16 by $0.02. The company 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 13.35% and a positive return on equity of 16.76%. As a group, equities analysts forecast that Abacus Life will post 0.62 earnings per share for the current fiscal year.

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.