Abacus Life (NASDAQ:ABL) Earns “Buy” Rating from B. Riley Financial

B. Riley Financial reiterated their buy rating on shares of Abacus Life (NASDAQ:ABL) in a research note issued to investors on Friday morning, Stock Target Advisor reports. They currently have a $16.00 target price on the stock.

A number of other equities analysts have also recently weighed in on ABL. TD Cowen assumed coverage on Abacus Life in a report on Wednesday, August 7th. They issued a buy rating and a $14.00 price target for the company. Piper Sandler assumed coverage on Abacus Life in a report on Wednesday, June 26th. They issued an overweight rating and a $12.00 price target for the company. Finally, B. Riley reaffirmed a buy rating and issued a $16.00 price target (up previously from $15.00) on shares of Abacus Life in a report on Thursday. Four analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Abacus Life presently has a consensus rating of Buy and a consensus price target of $14.50.

Abacus Life Stock Performance

Shares of NASDAQ ABL opened at $10.21 on Friday. The company has a market capitalization of $652.67 million, a PE ratio of 510.50 and a beta of 0.12. The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.12 and a current ratio of 3.12. The company’s fifty day moving average price is $9.57 and its 200 day moving average price is $10.89. Abacus Life has a 1 year low of $5.75 and a 1 year high of $13.25.

Abacus Life (NASDAQ:ABL) last posted its earnings results on Monday, August 12th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.05. Abacus Life had a return on equity of 4.96% and a net margin of 0.11%. The firm had revenue of $29.08 million for the quarter, compared to analysts’ expectations of $28.57 million. During the same period last year, the firm earned $0.13 EPS. On average, research analysts predict that Abacus Life will post 0.5 earnings per share for the current year.

Hedge Funds Weigh In On Abacus Life

Hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC acquired a new position in shares of Abacus Life during the second quarter valued at approximately $106,000. Levin Capital Strategies L.P. acquired a new position in shares of Abacus Life during the second quarter valued at approximately $130,000. Inscription Capital LLC acquired a new position in shares of Abacus Life during the first quarter valued at approximately $137,000. Richard W. Paul & Associates LLC grew its position in shares of Abacus Life by 4.8% in the second quarter. Richard W. Paul & Associates LLC now owns 30,448 shares of the company’s stock valued at $263,000 after purchasing an additional 1,401 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of Abacus Life in the second quarter valued at approximately $318,000.

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.