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

Shares of Abacus Life, Inc. (NASDAQ:ABL) have been assigned a consensus rating of “Buy” from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $14.08.

Several equities research analysts have recently weighed in on ABL shares. Piper Sandler increased their target price on shares of Abacus Life from $11.50 to $12.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Maxim Group started coverage on shares of Abacus Life in a research note on Tuesday, April 29th. They set a “buy” rating and a $14.00 target price for the company.

Abacus Life Stock Performance

NASDAQ ABL opened at $6.18 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. Abacus Life has a 1 year low of $5.10 and a 1 year high of $11.86. The company has a market capitalization of $598.55 million, a PE ratio of -34.33 and a beta of 0.11. The company has a fifty day moving average of $7.86 and a two-hundred day moving average of $7.73.

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

Institutional Investors Weigh In On Abacus Life

Hedge funds have recently made changes to their positions in the business. Millennium Management LLC lifted its position in Abacus Life by 1,629.1% in the fourth quarter. Millennium Management LLC now owns 192,019 shares of the company’s stock valued at $1,504,000 after purchasing an additional 180,914 shares during the period. Jane Street Group LLC acquired a new stake in Abacus Life in the fourth quarter valued at about $282,000. Two Sigma Investments LP acquired a new stake in Abacus Life in the fourth quarter valued at about $617,000. Royce & Associates LP lifted its position in Abacus Life by 339.9% in the fourth quarter. Royce & Associates LP now owns 1,306,431 shares of the company’s stock valued at $10,229,000 after purchasing an additional 1,009,431 shares during the period. Finally, Renaissance Technologies LLC lifted its position in Abacus Life by 356.0% in the fourth quarter. Renaissance Technologies LLC now owns 210,500 shares of the company’s stock valued at $1,648,000 after purchasing an additional 164,334 shares during the period.

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.