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

Shares of Abacus Life, Inc. (NASDAQ:ABL) have received a consensus recommendation of “Buy” from the six analysts that are covering the company, MarketBeat.com reports. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $14.30.

ABL has been the subject of several analyst reports. TD Cowen initiated 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 for the company. Northland Securities began coverage on shares of Abacus Life in a report on Thursday, October 24th. They issued an “outperform” rating and a $13.50 price target on the stock. B. Riley reaffirmed a “buy” rating and issued a $16.00 price target (up from $15.00) on shares of Abacus Life in a report on Thursday, August 29th. Northland Capmk raised shares of Abacus Life to a “strong-buy” rating in a report on Thursday, October 24th. Finally, B. Riley Financial reaffirmed a “buy” rating and issued a $16.00 price target on shares of Abacus Life in a report on Friday, August 30th.

Abacus Life Price Performance

ABL opened at $9.00 on Thursday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.59. Abacus Life has a 52-week low of $5.75 and a 52-week high of $13.25. The company has a 50 day moving average of $9.91 and a two-hundred day moving average of $10.26. The company has a market cap of $575.33 million, a P/E ratio of 450.00 and a beta of 0.12.

Abacus Life (NASDAQ:ABL) last released its quarterly earnings data on Monday, August 12th. The company reported $0.18 earnings per share (EPS) 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 company 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 earned $0.13 earnings per share. On average, analysts expect that Abacus Life will post 0.57 earnings per share for the current year.

Institutional Trading of Abacus Life

A number of institutional investors and hedge funds have recently modified their holdings of ABL. Richard W. Paul & Associates LLC raised its holdings in shares of Abacus Life by 4.8% during the second quarter. Richard W. Paul & Associates LLC now owns 30,448 shares of the company’s stock worth $263,000 after purchasing an additional 1,401 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Abacus Life during the second quarter worth $9,909,000. Principal Financial Group Inc. acquired a new stake in shares of Abacus Life during the second quarter worth $8,105,000. Stieven Capital Advisors L.P. acquired a new stake in shares of Abacus Life during the second quarter worth $2,811,000. Finally, Levin Capital Strategies L.P. bought a new position in shares of Abacus Life during the second quarter worth about $130,000.

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.