Brokerages Set Abacus Life, Inc. (NASDAQ:ABL) Price Target at $14.30

Shares of Abacus Life, Inc. (NASDAQ:ABL) have received a consensus recommendation of “Buy” from the six research firms that are currently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $14.30.

Several equities analysts recently weighed in on ABL shares. Northland Securities initiated coverage on Abacus Life in a research note on Thursday. They issued an “outperform” rating and a $13.50 price target for the company. B. Riley restated a “buy” rating and set a $16.00 price objective (up from $15.00) on shares of Abacus Life in a research report on Thursday, August 29th. Northland Capmk raised shares of Abacus Life to a “strong-buy” rating in a research note on Thursday. B. Riley Financial reaffirmed a “buy” rating and issued a $16.00 price target on shares of Abacus Life in a research note on Friday, August 30th. Finally, TD Cowen began coverage on Abacus Life in a research note on Wednesday, August 7th. They set a “buy” rating and a $14.00 price objective for the company.

Abacus Life Trading Down 0.8 %

NASDAQ ABL opened at $9.03 on Thursday. The stock has a 50-day simple moving average of $9.94 and a two-hundred day simple moving average of $10.29. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.59. Abacus Life has a fifty-two week low of $5.75 and a fifty-two week high of $13.25.

Abacus Life (NASDAQ:ABL) last announced its quarterly earnings results on Monday, August 12th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.05. Abacus Life had a positive return on equity of 7.02% and a negative net margin of 6.19%. The company had revenue of $29.08 million during the quarter, compared to the consensus estimate of $28.57 million. During the same period in the previous year, the company posted $0.13 earnings per share. As a group, equities research analysts forecast that Abacus Life will post 0.57 earnings per share for the current year.

Institutional Investors Weigh In On Abacus Life

Large investors have recently made changes to their positions in the stock. Richard W. Paul & Associates LLC increased its holdings in shares of Abacus Life by 4.8% during the 2nd quarter. Richard W. Paul & Associates LLC now owns 30,448 shares of the company’s stock worth $263,000 after buying an additional 1,401 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Abacus Life in the second quarter valued at $9,909,000. Principal Financial Group Inc. acquired a new position in shares of Abacus Life in the 2nd quarter valued at $8,105,000. Stieven Capital Advisors L.P. purchased a new position in shares of Abacus Life during the 2nd quarter worth $2,811,000. Finally, Levin Capital Strategies L.P. acquired a new stake in shares of Abacus Life during the 2nd quarter worth about $130,000.

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.