Abacus Life, Inc. (NASDAQ:ABL) Receives Consensus Rating of “Buy” from Analysts

Abacus Life, Inc. (NASDAQ:ABL) has been assigned a consensus rating of “Buy” from the six brokerages that are presently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $14.30.

Separately, B. Riley decreased their price objective on shares of Abacus Life from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th.

Hedge Funds Weigh In On Abacus Life

Large investors have recently modified their holdings of the stock. Geneos Wealth Management Inc. bought a new position in shares of Abacus Life during the fourth quarter worth about $110,000. Squarepoint Ops LLC bought a new position in shares of Abacus Life during the fourth quarter worth about $113,000. JPMorgan Chase & Co. lifted its position in shares of Abacus Life by 640.9% during the fourth quarter. JPMorgan Chase & Co. now owns 16,670 shares of the company’s stock worth $131,000 after purchasing an additional 14,420 shares during the last quarter. LPL Financial LLC lifted its position in shares of Abacus Life by 31.0% during the fourth quarter. LPL Financial LLC now owns 23,288 shares of the company’s stock worth $182,000 after purchasing an additional 5,507 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Abacus Life during the fourth quarter worth about $193,000.

Abacus Life Stock Performance

NASDAQ:ABL opened at $7.64 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a 50-day moving average of $7.62 and a two-hundred day moving average of $8.38. The stock has a market cap of $738.37 million, a P/E ratio of -42.44 and a beta of 0.14. Abacus Life has a 1-year low of $6.75 and a 1-year high of $12.50.

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.