Abacus Life (NASDAQ:ABL) Stock Price Expected to Rise, B. Riley Analyst Says

Abacus Life (NASDAQ:ABL) had its price objective lifted by B. Riley from $16.00 to $17.00 in a report issued on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock. B. Riley also issued estimates for Abacus Life’s Q4 2024 earnings at $0.18 EPS, FY2024 earnings at $0.66 EPS, Q1 2025 earnings at $0.25 EPS, Q2 2025 earnings at $0.26 EPS, Q3 2025 earnings at $0.27 EPS, Q4 2025 earnings at $0.27 EPS, FY2025 earnings at $1.05 EPS, Q1 2026 earnings at $0.36 EPS, Q2 2026 earnings at $0.38 EPS, Q3 2026 earnings at $0.40 EPS and FY2026 earnings at $1.56 EPS.

ABL has been the subject of a number of other research reports. 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 issued a $13.00 price target (up from $12.00) on shares of Abacus Life in a report on Friday, November 8th. TD Cowen began coverage on shares of Abacus Life in a report on Wednesday, August 7th. They set a “buy” rating and a $14.00 price objective for the company. Northland Securities assumed 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. Finally, B. Riley Financial restated a “buy” rating and set a $16.00 target price on shares of Abacus Life in a research report on Friday, August 30th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $14.70.

Abacus Life Trading Up 3.3 %

Shares of NASDAQ:ABL opened at $8.08 on Monday. Abacus Life has a 12-month low of $6.56 and a 12-month high of $13.25. The company has a market cap of $603.17 million, a PE ratio of -44.89 and a beta of 0.15. The stock has a 50 day moving average of $9.17 and a 200 day moving average of $9.74. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.65.

Abacus Life (NASDAQ:ABL) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.14 by $0.06. The firm had revenue of $28.15 million for the quarter, compared to the consensus estimate 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 period last year, the firm earned $0.01 EPS. As a group, equities research analysts expect that Abacus Life will post 0.64 EPS for the current year.

Insiders Place Their Bets

In related news, Director Adam Samuel Gusky acquired 18,241 shares of the stock in a transaction dated Friday, November 22nd. The stock was acquired at an average cost of $7.54 per share, with a total value of $137,537.14. Following the purchase, the director now directly owns 40,959 shares of the company’s stock, valued at approximately $308,830.86. This trade represents a 80.29 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jay J. Jackson sold 2,031,250 shares of Abacus Life stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $8.00, for a total value of $16,250,000.00. Following the completion of the transaction, the chief executive officer now owns 10,562,000 shares of the company’s stock, valued at approximately $84,496,000. This trade represents a 16.13 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 79.20% of the company’s stock.

Institutional Trading of Abacus Life

Several hedge funds and other institutional investors have recently bought and sold shares of ABL. Evernest Financial Advisors LLC purchased a new stake in Abacus Life in the 3rd quarter worth about $681,000. Principal Financial Group Inc. boosted its position in shares of Abacus Life by 7.9% during the third quarter. Principal Financial Group Inc. now owns 1,011,143 shares of the company’s stock valued at $10,233,000 after buying an additional 74,172 shares during the period. Mendon Capital Advisors Corp bought a new position in shares of Abacus Life during the second quarter valued at approximately $4,974,000. Clearbridge Investments LLC purchased a new stake in shares of Abacus Life in the second quarter worth approximately $4,342,000. Finally, Royce & Associates LP lifted its stake in shares of Abacus Life by 35.0% during the 3rd quarter. Royce & Associates LP now owns 297,000 shares of the company’s stock worth $3,006,000 after acquiring an additional 77,000 shares during 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.