Abacus Life (NASDAQ:ABL) Price Target Lowered to $15.00 at B. Riley

Abacus Life (NASDAQ:ABL) had its target price cut by stock analysts at B. Riley from $17.00 to $15.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley’s price objective points to a potential upside of 94.30% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the company. Piper Sandler reissued an “overweight” rating and issued a $13.00 price objective (up previously from $12.00) on shares of Abacus Life in a report on Friday, November 8th. Northland Capmk raised Abacus Life to a “strong-buy” rating in a report on Thursday, October 24th. Finally, Northland Securities started coverage on Abacus Life in a report on Thursday, October 24th. They issued an “outperform” rating and a $13.50 price objective for the company. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Abacus Life has an average rating of “Buy” and an average target price of $14.30.

Abacus Life Stock Down 2.3 %

Abacus Life stock opened at $7.72 on Tuesday. 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 business’s 50-day simple moving average is $8.10 and its two-hundred day simple moving average is $9.12. The company has a market cap of $653.72 million, a PE ratio of -42.89 and a beta of 0.14. Abacus Life has a fifty-two week low of $7.07 and a fifty-two week high of $13.25.

Abacus Life (NASDAQ:ABL) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.06. The business had revenue of $28.15 million for the quarter, compared to the consensus estimate of $26.08 million. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. During the same quarter in the previous year, the business earned $0.01 EPS. Equities analysts anticipate that Abacus Life will post 0.64 EPS for the current year.

Insider Buying and Selling

In other Abacus Life news, insider Matthew Ganovsky sold 156,250 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $8.00, for a total transaction of $1,250,000.00. Following the completion of the sale, the insider now directly owns 10,847,047 shares in the company, valued at approximately $86,776,376. The trade was a 1.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sean Mcnealy sold 75,800 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $8.00, for a total value of $606,400.00. Following the sale, the insider now owns 12,361,500 shares of the company’s stock, valued at approximately $98,892,000. This trade represents a 0.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 36,367 shares of company stock valued at $279,626 and sold 2,263,300 shares valued at $18,106,400. 79.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Abacus Life

Several large investors have recently bought and sold shares of the company. Levin Capital Strategies L.P. purchased a new stake in shares of Abacus Life in the second quarter valued at approximately $130,000. Renaissance Technologies LLC purchased a new stake in shares of Abacus Life in the second quarter valued at approximately $106,000. Sei Investments Co. purchased a new stake in shares of Abacus Life in the second quarter valued at approximately $418,000. Quarry LP purchased a new stake in shares of Abacus Life in the second quarter valued at approximately $318,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Abacus Life in the second quarter valued at approximately $5,190,000.

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.