Abacus Life, Inc. (NASDAQ:ABL) Given Consensus Recommendation of “Buy” by Brokerages

Abacus Life, Inc. (NASDAQ:ABL) has been given an average recommendation of “Buy” by the six ratings firms that are presently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $14.30.

Separately, B. Riley decreased their price target on Abacus Life from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th.

Abacus Life Stock Down 0.8 %

Shares of ABL opened at $7.15 on Friday. The company’s 50-day moving average price is $7.61 and its 200 day moving average price is $8.31. Abacus Life has a 12-month low of $6.75 and a 12-month high of $12.50. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.65. The firm has a market cap of $691.01 million, a P/E ratio of -39.72 and a beta of 0.14.

Abacus Life (NASDAQ:ABL) last released its quarterly earnings results on Thursday, March 27th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. The business had revenue of $33.21 million for the quarter, compared to the consensus estimate of $28.76 million. Abacus Life had a negative net margin of 11.65% and a positive return on equity of 12.88%. On average, sell-side analysts forecast that Abacus Life will post 0.62 earnings per share for the current year.

Institutional Investors Weigh In On Abacus Life

Large investors have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. purchased a new position in Abacus Life in the 4th quarter valued at approximately $110,000. 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% during the 4th quarter. JPMorgan Chase & Co. now owns 16,670 shares of the company’s stock worth $131,000 after purchasing an additional 14,420 shares during the period. LPL Financial LLC increased its holdings in Abacus Life by 31.0% during the 4th quarter. LPL Financial LLC now owns 23,288 shares of the company’s stock worth $182,000 after purchasing an additional 5,507 shares during the period. Finally, XTX Topco Ltd purchased a new position in shares of Abacus Life in the 4th quarter valued at about $193,000.

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.