B. Riley Reiterates “Buy” Rating for Abacus Life (NASDAQ:ABL)

B. Riley reiterated their buy rating on shares of Abacus Life (NASDAQ:ABL) in a report issued on Monday morning, Benzinga reports. They currently have a $15.00 price objective on the stock, down from their prior price objective of $16.00.

Abacus Life Trading Down 2.3 %

Abacus Life stock opened at $8.51 on Monday. The business has a 50-day simple moving average of $11.20 and a two-hundred day simple moving average of $11.20. The company has a market cap of $543.96 million, a P/E ratio of 425.71 and a beta of 0.17. Abacus Life has a 52-week low of $5.47 and a 52-week high of $13.25. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 1.03.

Abacus Life (NASDAQ:ABL) last released its quarterly earnings results on Monday, May 13th. The company reported $0.11 earnings per share (EPS) for the quarter. Abacus Life had a return on equity of 4.96% and a net margin of 0.11%. The business had revenue of $21.49 million during the quarter. Analysts predict that Abacus Life will post 0.52 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ABL. Barclays PLC purchased a new position in Abacus Life in the 3rd quarter worth approximately $47,000. Inscription Capital LLC purchased a new position in Abacus Life in the 1st quarter worth approximately $137,000. Finally, Quarry LP purchased a new position in Abacus Life in the 4th quarter worth approximately $463,000.

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.