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

Abacus Life, Inc. (NASDAQ:ABL) has earned an average rating of “Buy” from the seven research firms that are covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $14.08.

Several brokerages have recently weighed in on ABL. Piper Sandler upped their price objective on Abacus Life from $11.50 to $12.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Maxim Group assumed coverage on Abacus Life in a report on Tuesday, April 29th. They issued a “buy” rating and a $14.00 price objective on the stock.

Abacus Life Stock Performance

NASDAQ ABL opened at $6.18 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.29 and a current ratio of 1.29. Abacus Life has a fifty-two week low of $5.10 and a fifty-two week high of $11.86. The stock has a 50-day simple moving average of $7.86 and a two-hundred day simple moving average of $7.73. The firm has a market capitalization of $598.55 million, a P/E ratio of -34.33 and a beta of 0.11.

Abacus Life (NASDAQ:ABL) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.02. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. The firm had revenue of $44.14 million during the quarter, compared to analyst estimates of $39.51 million. On average, equities analysts forecast that Abacus Life will post 0.62 earnings per share for the current year.

Institutional Trading of Abacus Life

Hedge funds have recently modified their holdings of the stock. State of Wyoming purchased a new position in Abacus Life in the first quarter valued at $105,000. Squarepoint Ops LLC purchased a new position in Abacus Life in the fourth quarter valued at $113,000. JPMorgan Chase & Co. increased its holdings in Abacus Life by 640.9% in the fourth quarter. JPMorgan Chase & Co. now owns 16,670 shares of the company’s stock valued at $131,000 after buying an additional 14,420 shares during the last quarter. LPL Financial LLC increased its holdings in Abacus Life by 31.0% in the fourth quarter. LPL Financial LLC now owns 23,288 shares of the company’s stock valued at $182,000 after buying an additional 5,507 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in Abacus Life in the fourth quarter valued at $193,000.

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.