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

Abacus Life (NASDAQ:ABL) had its target price decreased by B. Riley from $17.00 to $15.00 in a research report sent to investors on Tuesday,Benzinga reports. B. Riley currently has a buy rating on the stock.

Other analysts have also issued research reports about the company. Northland Capmk raised Abacus Life to a “strong-buy” rating in a research note on Thursday, October 24th. Piper Sandler reissued an “overweight” rating and set a $13.00 price objective (up from $12.00) on shares of Abacus Life in a report on Friday, November 8th. Finally, Northland Securities began coverage on shares of Abacus Life in a report on Thursday, October 24th. They issued an “outperform” rating and a $13.50 target price on the stock. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $14.30.

Abacus Life Trading Down 2.2 %

Shares of ABL stock opened at $7.39 on Tuesday. The firm has a fifty day moving average of $8.06 and a 200-day moving average of $9.10. The stock has a market cap of $625.79 million, a price-to-earnings ratio of -41.05 and a beta of 0.13. Abacus Life has a 52-week low of $7.07 and a 52-week high of $13.25. 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 (NASDAQ:ABL) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.06. The firm had revenue of $28.15 million during the quarter, compared to analyst estimates of $26.08 million. Abacus Life had a negative net margin of 11.65% and a positive return on equity of 12.88%. During the same quarter in the prior year, the business posted $0.01 earnings per share. On average, equities research analysts forecast that Abacus Life will post 0.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Abacus Life news, insider Matthew Ganovsky sold 156,250 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $8.00, for a total value of $1,250,000.00. Following the completion of the sale, the insider now owns 10,847,047 shares in the company, valued at $86,776,376. This trade represents a 1.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Adam Samuel Gusky purchased 18,241 shares of Abacus Life stock in a transaction that occurred on Friday, November 22nd. The shares were acquired at an average price of $7.54 per share, with a total value of $137,537.14. Following the acquisition, the director now directly owns 40,959 shares of the company’s stock, valued at $308,830.86. This trade represents a 80.29 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 36,367 shares of company stock valued at $279,626 and sold 2,263,300 shares valued at $18,106,400. Company insiders own 79.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Richard W. Paul & Associates LLC lifted its holdings in Abacus Life by 27.8% during the 3rd quarter. Richard W. Paul & Associates LLC now owns 38,902 shares of the company’s stock worth $394,000 after purchasing an additional 8,454 shares during the last quarter. Renaissance Technologies LLC bought a new position in Abacus Life during the 2nd quarter worth $106,000. Curi RMB Capital LLC lifted its holdings in shares of Abacus Life by 2.4% during the third quarter. Curi RMB Capital LLC now owns 550,000 shares of the company’s stock worth $5,566,000 after buying an additional 12,765 shares in the last quarter. Levin Capital Strategies L.P. bought a new stake in shares of Abacus Life in the second quarter valued at about $130,000. Finally, Franklin Resources Inc. grew its stake in shares of Abacus Life by 3.6% in the third quarter. Franklin Resources Inc. now owns 437,733 shares of the company’s stock valued at $4,382,000 after acquiring an additional 15,308 shares in the last quarter.

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.