Northland Securities Begins Coverage on Abacus Life (NASDAQ:ABL)

Northland Securities assumed coverage on shares of Abacus Life (NASDAQ:ABL) in a research note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $13.50 price objective on the stock.

ABL has been the subject of several other reports. Piper Sandler began coverage on Abacus Life in a report on Wednesday, June 26th. They set an “overweight” rating and a $12.00 target price for the company. B. Riley Financial reissued a “buy” rating and set a $16.00 price objective on shares of Abacus Life in a research note on Friday, August 30th. TD Cowen began coverage on shares of Abacus Life in a research note on Wednesday, August 7th. They issued a “buy” rating and a $14.00 target price on the stock. Finally, B. Riley reiterated a “buy” rating and set a $16.00 price target (up from $15.00) on shares of Abacus Life in a report on Thursday, August 29th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $14.30.

Abacus Life Trading Down 0.8 %

ABL stock opened at $9.03 on Thursday. Abacus Life has a one year low of $5.75 and a one year high of $13.25. The company has a market capitalization of $674.09 million, a PE ratio of -90.29 and a beta of 0.12. The company’s 50 day moving average price is $9.94 and its two-hundred day moving average price is $10.29. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.84 and a current ratio of 1.84.

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

Institutional Investors Weigh In On Abacus Life

Institutional investors and hedge funds have recently modified their holdings of the stock. Richard W. Paul & Associates LLC lifted its stake in shares of Abacus Life by 4.8% in the 2nd 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 during the period. Renaissance Technologies LLC bought a new stake in shares of Abacus Life during the 2nd quarter valued at $106,000. Levin Capital Strategies L.P. purchased a new stake in shares of Abacus Life in the 2nd quarter worth about $130,000. Quarry LP purchased a new stake in shares of Abacus Life in the 2nd quarter worth about $318,000. Finally, Sei Investments Co. bought a new position in shares of Abacus Life in the 2nd quarter worth about $418,000.

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.