Abacus Life (NASDAQ:ABL) Stock Rating Upgraded by Northland Capmk

Northland Capmk upgraded shares of Abacus Life (NASDAQ:ABL) to a strong-buy rating in a research note issued to investors on Thursday, Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. Piper Sandler initiated coverage on Abacus Life in a report on Wednesday, June 26th. They issued an “overweight” rating and a $12.00 price objective for the company. B. Riley reissued 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. B. Riley Financial restated a “buy” rating and issued a $16.00 price objective on shares of Abacus Life in a research report on Friday, August 30th. Northland Securities began coverage on shares of Abacus Life in a report on Thursday. They set an “outperform” rating and a $13.50 target price for the company. Finally, TD Cowen assumed 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. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $14.30.

Abacus Life Stock Performance

ABL opened at $9.03 on Thursday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.59. Abacus Life has a 12-month low of $5.75 and a 12-month high of $13.25. The firm has a 50 day moving average of $9.94 and a two-hundred day moving average of $10.28. The firm has a market capitalization of $674.09 million, a PE ratio of -90.29 and a beta of 0.12.

Abacus Life (NASDAQ:ABL) last issued its earnings results 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 firm had revenue of $29.08 million during the quarter, compared to analysts’ expectations of $28.57 million. During the same quarter last year, the company posted $0.13 earnings per share. On average, analysts anticipate that Abacus Life will post 0.57 EPS for the current year.

Institutional Trading of Abacus Life

Institutional investors and hedge funds have recently made changes to their positions in the business. Evernest Financial Advisors LLC purchased a new position in shares of Abacus Life during the 3rd quarter valued at approximately $681,000. Principal Financial Group Inc. purchased a new stake in Abacus Life in the 2nd quarter worth $8,105,000. Mendon Capital Advisors Corp acquired a new position in Abacus Life during the second quarter worth $4,974,000. Clearbridge Investments LLC purchased a new position in Abacus Life during the second quarter valued at $4,342,000. Finally, 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 during the period.

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.