Abacus Life, Inc. (NASDAQ:ABL) Receives $14.30 Average Target Price from Brokerages

Shares of Abacus Life, Inc. (NASDAQ:ABL) have earned an average recommendation of “Buy” from the six brokerages that are covering the company, Marketbeat reports. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $14.30.

Several brokerages have recently commented on ABL. Piper Sandler reaffirmed an “overweight” rating and set a $13.00 target price (up from $12.00) on shares of Abacus Life in a report on Friday, November 8th. B. Riley lowered their target price on shares of Abacus Life from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th.

Insiders Place Their Bets

In other Abacus Life news, Director Adam Samuel Gusky acquired 6,000 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was bought at an average cost of $7.94 per share, with a total value of $47,640.00. Following the acquisition, the director now owns 49,085 shares in the company, valued at approximately $389,734.90. This represents a 13.93 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Sean Mcnealy sold 75,800 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $8.00, for a total transaction of $606,400.00. Following the completion of the transaction, the insider now directly owns 12,361,500 shares of the company’s stock, valued at approximately $98,892,000. The trade was a 0.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders bought 18,126 shares of company stock valued at $142,089. Corporate insiders own 79.20% of the company’s stock.

Institutional Investors Weigh In On Abacus Life

Large investors have recently modified their holdings of the stock. Geneos Wealth Management Inc. bought a new stake in Abacus Life during the fourth quarter worth about $110,000. Squarepoint Ops LLC bought a new stake in Abacus Life during the fourth quarter worth about $113,000. JPMorgan Chase & Co. boosted its stake in 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 acquiring an additional 14,420 shares in the last quarter. LPL Financial LLC boosted its stake in 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 acquiring an additional 5,507 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in Abacus Life during the fourth quarter worth about $193,000.

Abacus Life Trading Up 1.2 %

Shares of NASDAQ:ABL opened at $7.78 on Wednesday. The company has a 50-day simple moving average of $7.63 and a 200 day simple moving average of $8.70. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.29 and a current ratio of 1.29. The company has a market capitalization of $751.90 million, a P/E ratio of -43.22 and a beta of 0.14. Abacus Life has a 52-week low of $6.75 and a 52-week high of $12.65.

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.