Brokerages Set Abacus Life, Inc. (NASDAQ:ABL) Target Price at $13.13

Abacus Life, Inc. (NASDAQ:ABL) has received an average rating of “Moderate Buy” from the six brokerages that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $12.8750.

ABL has been the subject of several recent research reports. Wall Street Zen raised shares of Abacus Life from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Piper Sandler decreased their target price on shares of Abacus Life from $10.00 to $9.00 and set an “overweight” rating for the company in a research report on Thursday, October 9th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Abacus Life in a research report on Wednesday, October 8th.

Abacus Life Stock Up 2.3%

Abacus Life stock opened at $5.87 on Thursday. The firm has a market cap of $567.98 million, a PE ratio of -97.83 and a beta of -0.01. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.76 and a current ratio of 0.76. The firm’s 50 day moving average price is $6.29 and its two-hundred day moving average price is $6.62. Abacus Life has a twelve month low of $4.60 and a twelve month high of $10.30.

Abacus Life (NASDAQ:ABL) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.06. The firm had revenue of $56.23 million for the quarter, compared to analyst estimates of $43.38 million. Abacus Life had a negative net margin of 0.72% and a positive return on equity of 17.65%. On average, research analysts predict that Abacus Life will post 0.62 EPS for the current fiscal year.

Institutional Trading of Abacus Life

Several large investors have recently added to or reduced their stakes in ABL. Bison Wealth LLC grew its position in Abacus Life by 492.0% in the fourth quarter. Bison Wealth LLC now owns 61,125 shares of the company’s stock worth $479,000 after acquiring an additional 50,800 shares in the last quarter. Foundry Partners LLC boosted its holdings in shares of Abacus Life by 10.5% during the 1st quarter. Foundry Partners LLC now owns 756,957 shares of the company’s stock worth $5,670,000 after buying an additional 71,957 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Abacus Life during the 1st quarter worth $249,000. Royce & Associates LP boosted its holdings in shares of Abacus Life by 39.6% during the 1st quarter. Royce & Associates LP now owns 1,824,253 shares of the company’s stock worth $13,664,000 after buying an additional 517,822 shares during the period. Finally, Bastion Asset Management Inc. bought a new stake in shares of Abacus Life during the 1st quarter worth $4,353,000.

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.