Abacus Life, Inc. (NASDAQ:ABL) Receives $14.08 Consensus PT from Analysts

Shares of Abacus Life, Inc. (NASDAQ:ABL) have been given an average rating of “Buy” by the seven analysts that are currently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $13.75.

A number of research analysts have recently issued reports on the company. Maxim Group initiated coverage on Abacus Life in a research note on Tuesday, April 29th. They issued a “buy” rating and a $14.00 price objective on the stock. Piper Sandler lowered 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 Trading of Abacus Life

Several large investors have recently made changes to their positions in the company. Alyeska Investment Group L.P. raised its stake in Abacus Life by 116.5% during the 4th quarter. Alyeska Investment Group L.P. now owns 2,540,790 shares of the company’s stock worth $19,894,000 after buying an additional 1,367,210 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Abacus Life by 13.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,928,293 shares of the company’s stock valued at $14,443,000 after acquiring an additional 221,712 shares in the last quarter. Royce & Associates LP raised its position in shares of Abacus Life by 39.6% during the first quarter. Royce & Associates LP now owns 1,824,253 shares of the company’s stock worth $13,664,000 after purchasing an additional 517,822 shares during the period. Mendon Capital Advisors Corp lifted its holdings in shares of Abacus Life by 9.1% in the 1st quarter. Mendon Capital Advisors Corp now owns 1,422,171 shares of the company’s stock worth $10,652,000 after purchasing an additional 118,345 shares in the last quarter. Finally, Curi RMB Capital LLC grew its position in Abacus Life by 10.0% in the 1st quarter. Curi RMB Capital LLC now owns 1,275,000 shares of the company’s stock valued at $9,550,000 after purchasing an additional 116,000 shares during the period.

Abacus Life Stock Performance

NASDAQ:ABL opened at $5.36 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.47 and a current ratio of 0.47. Abacus Life has a fifty-two week low of $4.60 and a fifty-two week high of $11.86. The company has a 50 day simple moving average of $7.14 and a two-hundred day simple moving average of $7.45. The company has a market capitalization of $519.02 million and a PE ratio of -23.30.

Abacus Life (NASDAQ:ABL) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.02. The company had revenue of $44.14 million during the quarter, compared to analysts’ expectations of $39.51 million. Abacus Life had a negative net margin of 13.35% and a positive return on equity of 16.76%. Research analysts anticipate that Abacus Life will post 0.62 earnings per share 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.