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

Shares of Abacus Life, Inc. (NASDAQ:ABL) have been given an average recommendation of “Buy” by the five analysts that are covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy recommendation. The average 12-month price objective among analysts that have covered the stock in the last year is $14.30.

A number of research firms have weighed in on ABL. B. Riley restated a “buy” rating and set a $16.00 price objective (up from $15.00) on shares of Abacus Life in a research report on Thursday, August 29th. Piper Sandler started coverage on shares of Abacus Life in a research report on Wednesday, June 26th. They issued an “overweight” rating and a $12.00 target price for the company. TD Cowen started coverage on shares of Abacus Life in a research report on Wednesday, August 7th. They issued a “buy” rating and a $14.00 target price for the company. B. Riley Financial reiterated a “buy” rating and issued a $16.00 target price on shares of Abacus Life in a research report on Friday, August 30th. Finally, Northland Securities started coverage on shares of Abacus Life in a research report on Thursday. They issued an “outperform” rating and a $13.50 target price for the company.

Hedge Funds Weigh In On Abacus Life

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new position in Abacus Life in the 2nd quarter valued at $9,909,000. Principal Financial Group Inc. purchased a new position in Abacus Life in the 2nd quarter valued at $8,105,000. Point72 Asset Management L.P. purchased a new position in Abacus Life in the 2nd quarter valued at $5,190,000. Mendon Capital Advisors Corp purchased a new position in Abacus Life in the 2nd quarter valued at $4,974,000. Finally, Clearbridge Investments LLC purchased a new position in Abacus Life in the 2nd quarter valued at $4,342,000.

Abacus Life Stock Performance

Shares of ABL traded up $0.26 during trading hours on Thursday, hitting $9.05. The stock had a trading volume of 18,784 shares, compared to its average volume of 64,518. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a 50-day moving average price of $10.00 and a 200 day moving average price of $10.33. The firm has a market capitalization of $578.52 million, a price-to-earnings ratio of 444.00 and a beta of 0.12. Abacus Life has a fifty-two week low of $5.75 and a fifty-two week high of $13.25.

Abacus Life (NASDAQ:ABL) last posted its quarterly earnings data on Monday, August 12th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.05. The company had revenue of $29.08 million during the quarter, compared to analysts’ expectations of $28.57 million. Abacus Life had a negative net margin of 6.19% and a positive return on equity of 7.02%. During the same period in the prior year, the business posted $0.13 earnings per share. As a group, research analysts anticipate that Abacus Life will post 0.57 EPS for the current year.

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.