Abacus Life, Inc. (NASDAQ:ABL) Receives Consensus Rating of "Buy" from Brokerages

Key Points

• Abacus Life, Inc. has received a consensus recommendation of "Buy" from seven brokerages, with six analysts rating it as buy and one as strong buy.
• The average twelve-month price target for Abacus Life stock among analysts is $13.75, while recent performance shows the stock trading at $5.25.
• In the latest earnings report, Abacus Life exceeded expectations with $0.18 EPS against estimates of $0.16, alongside a revenue of $44.14 million for the quarter.

Abacus Life, Inc. (NASDAQ:ABL - Get Free Report) has been assigned an average recommendation of "Buy" from the seven analysts that are currently covering the company, MarketBeat reports. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $13.75.

A number of brokerages recently commented on ABL. Piper Sandler dropped their price objective on shares of Abacus Life from $12.00 to $10.00 and set an "overweight" rating on the stock in a report on Wednesday, July 2nd. Maxim Group assumed coverage on Abacus Life in a report on Tuesday, April 29th. They set a "buy" rating and a $14.00 price objective for the company.

Institutional Investors Weigh In On Abacus Life

Institutional investors have recently made changes to their positions in the company. KLP Kapitalforvaltning AS acquired a new position in Abacus Life in the 2nd quarter valued at $41,000. State of Wyoming acquired a new position in Abacus Life in the first quarter valued at $105,000. Squarepoint Ops LLC bought a new stake in Abacus Life during the fourth quarter valued at $113,000. JPMorgan Chase & Co. boosted its position in Abacus Life by 640.9% during the fourth quarter. JPMorgan Chase & Co. now owns 16,670 shares of the company's stock valued at $131,000 after acquiring an additional 14,420 shares during the last quarter. Finally, LPL Financial LLC grew its holdings in Abacus Life by 31.0% during the 4th quarter. LPL Financial LLC now owns 23,288 shares of the company's stock worth $182,000 after acquiring an additional 5,507 shares during the period.

Abacus Life Trading Up 1.1%

Abacus Life stock traded up $0.06 during mid-day trading on Friday, hitting $5.34. The stock had a trading volume of 786,555 shares, compared to its average volume of 627,059. The stock has a 50-day simple moving average of $6.01 and a two-hundred day simple moving average of $7.15. Abacus Life has a 12 month low of $4.60 and a 12 month high of $11.86. The stock has a market capitalization of $517.18 million and a PE ratio of -23.22. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.55.

Abacus Life (NASDAQ:ABL - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.16 by $0.02. Abacus Life had a negative net margin of 13.35% and a positive return on equity of 16.76%. The business had revenue of $44.14 million for the quarter, compared to the consensus estimate of $39.51 million. As a group, sell-side analysts forecast that Abacus Life will post 0.62 EPS for the current 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.