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

Abacus Life, Inc. (NASDAQ:ABL) has recently received an average recommendation of "Buy" from six brokerages monitoring the company, according to MarketBeat Ratings. Among these analysts, five have suggested a buy rating, while one has indicated a strong buy suggestion. The average 12-month price target set by these analysts is $14.30, reflecting their optimism about the stock's potential.

In a related note, B. Riley updated its price target for Abacus Life, reducing it from $17.00 to $15.00, while maintaining a "buy" rating on the stock as of January 7th.

Institutional Investors' Interest

Several hedge funds and institutional investors have recently adjusted their positions in Abacus Life. Charles Schwab Investment Management Inc. initiated a new position in the company during the third quarter, investing roughly $614,000 in shares. Geode Capital Management LLC significantly increased its ownership by 439.6%, acquiring an additional 140,054 shares and bringing its total to 171,917 shares, valued at $1,741,000. Franklin Resources Inc. also raised its stake by 3.6%, now holding 437,733 shares valued at $4,382,000 after purchasing an additional 15,308 shares. Principal Financial Group Inc. enhanced its holdings by 7.9%, resulting in ownership of 1,011,143 shares, which is valued at $10,233,000 after adding 74,172 shares. Additionally, Geneos Wealth Management Inc. bought a new stake worth approximately $110,000 in the fourth quarter.

Current Stock Performance

As of the latest trading session, shares of Abacus Life were priced at $7.35. The company maintains a debt-to-equity ratio of 0.65, with both a quick ratio and current ratio of 1.29. Throughout the past year, the stock has touched a low of $6.75 and a peak of $12.50. The 50-day simple moving average stands at $7.62, and the 200-day simple moving average is at $8.33. Abacus Life has a market capitalization of $710.34 million, a PE ratio of -40.83, and a beta of 0.14.

About Abacus Life

Abacus Life, Inc. specializes in alternative asset management, focusing on life insurance products. The company purchases life insurance policies from consumers who are seeking liquidity and manages these policies by trading, holding, and servicing them over time. Founded in 2004, Abacus Life is headquartered in Orlando, Florida.

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