Abacus Life’s (ABL) “Overweight” Rating Reiterated at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Abacus Life (NASDAQ:ABL) in a research report released on Friday morning,Benzinga reports. Piper Sandler currently has a $13.00 target price on the stock, up from their previous target price of $12.00.

Other analysts have also recently issued research reports about the company. Northland Capmk raised Abacus Life to a “strong-buy” rating in a research report on Thursday, October 24th. Northland Securities initiated coverage on Abacus Life in a research report on Thursday, October 24th. They set an “outperform” rating and a $13.50 price target for the company. B. Riley reaffirmed a “buy” rating and set a $16.00 price target (up previously from $15.00) on shares of Abacus Life in a research report on Thursday, August 29th. TD Cowen initiated coverage on Abacus Life in a research report on Wednesday, August 7th. They set a “buy” rating and a $14.00 price target for the company. Finally, B. Riley Financial reaffirmed a “buy” rating and set a $16.00 price target on shares of Abacus Life in a research report on Friday, August 30th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Abacus Life currently has a consensus rating of “Buy” and an average target price of $14.50.

Abacus Life Stock Down 5.1 %

Abacus Life stock opened at $8.56 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.84 and a quick ratio of 1.84. The stock has a market capitalization of $639.00 million, a price-to-earnings ratio of -47.55 and a beta of 0.15. Abacus Life has a 1-year low of $5.75 and a 1-year high of $13.25. The business has a fifty day moving average price of $9.59 and a 200-day moving average price of $10.03.

Abacus Life (NASDAQ:ABL) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. Abacus Life had a positive return on equity of 13.90% and a negative net margin of 11.65%. The firm had revenue of $28.15 million during the quarter, compared to analysts’ expectations of $26.08 million. During the same quarter last year, the firm earned $0.01 EPS. Equities research analysts forecast that Abacus Life will post 0.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Abacus Life

Several institutional investors and hedge funds have recently modified their holdings of ABL. Richard W. Paul & Associates LLC increased 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 in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Abacus Life in the 2nd quarter valued at about $9,909,000. Principal Financial Group Inc. purchased a new position in shares of Abacus Life in the 2nd quarter valued at about $8,105,000. Stieven Capital Advisors L.P. purchased a new position in shares of Abacus Life in the 2nd quarter valued at about $2,811,000. Finally, Levin Capital Strategies L.P. purchased a new position in shares of Abacus Life in the 2nd quarter valued at about $130,000.

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.