Abacus Life’s (ABL) “Buy” Rating Reiterated at B. Riley

Abacus Life (NASDAQ:ABL)‘s stock had its “buy” rating reissued by equities researchers at B. Riley in a report issued on Monday, Benzinga reports. They currently have a $15.00 price target on the stock, down from their prior price target of $16.00. B. Riley’s price objective indicates a potential upside of 74.42% from the company’s current price.

Abacus Life Stock Down 1.3 %

ABL stock traded down $0.11 during mid-day trading on Monday, hitting $8.60. The stock had a trading volume of 17,235 shares, compared to its average volume of 43,499. The stock has a market capitalization of $549.71 million, a price-to-earnings ratio of 429.71 and a beta of 0.17. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 1.03. Abacus Life has a 1-year low of $5.47 and a 1-year high of $13.25. The company has a fifty day moving average of $11.27 and a 200 day moving average of $11.19.

Abacus Life (NASDAQ:ABL) last posted its earnings results on Monday, May 13th. The company reported $0.11 earnings per share (EPS) for the quarter. The firm had revenue of $21.49 million during the quarter. Abacus Life had a net margin of 0.11% and a return on equity of 4.96%. On average, equities analysts expect that Abacus Life will post 0.52 EPS for the current fiscal year.

Institutional Trading of Abacus Life

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP acquired a new stake in shares of Abacus Life in the fourth quarter worth $463,000. Inscription Capital LLC acquired a new position in Abacus Life in the 1st quarter valued at $137,000. Finally, Barclays PLC bought a new position in Abacus Life in the 3rd quarter worth $47,000.

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.