Abacus Life, Inc. (NASDAQ:ABL) Receives Consensus Recommendation of “Buy” from Brokerages

Abacus Life, Inc. (NASDAQ:ABL) has earned a consensus rating of “Buy” from the six ratings firms that are currently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $14.50.

Several research analysts have recently issued reports on the company. B. Riley reaffirmed a “buy” rating and set a $16.00 price objective (up from $15.00) on shares of Abacus Life in a research report on Thursday, August 29th. Piper Sandler reissued an “overweight” rating and issued a $13.00 target price (up from $12.00) on shares of Abacus Life in a research report on Friday, November 8th. Northland Capmk raised Abacus Life to a “strong-buy” rating in a research report on Thursday, October 24th. Northland Securities began coverage on Abacus Life in a research note on Thursday, October 24th. They set an “outperform” rating and a $13.50 price objective for the company. Finally, TD Cowen began coverage on Abacus Life in a research note on Wednesday, August 7th. They set a “buy” rating and a $14.00 price objective for the company.

Hedge Funds Weigh In On Abacus Life

A number of large investors have recently modified their holdings of ABL. Renaissance Technologies LLC purchased a new position in Abacus Life in the 2nd quarter valued at approximately $106,000. Levin Capital Strategies L.P. purchased a new position in Abacus Life in the second quarter valued at about $130,000. Richard W. Paul & Associates LLC raised its position in 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. Quarry LP purchased a new position in Abacus Life in the second quarter valued at about $318,000. Finally, Sei Investments Co. purchased a new stake in shares of Abacus Life during the second quarter worth about $418,000.

Abacus Life Stock Performance

NASDAQ ABL opened at $8.34 on Monday. Abacus Life has a fifty-two week low of $5.85 and a fifty-two week high of $13.25. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a market capitalization of $622.59 million, a P/E ratio of -46.33 and a beta of 0.15. The stock’s fifty day moving average is $9.46 and its two-hundred day moving average is $9.94.

Abacus Life (NASDAQ:ABL) last released its earnings results on Thursday, November 7th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.14 by $0.06. Abacus Life had a positive return on equity of 12.88% 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 period in the previous year, the firm posted $0.01 EPS. On average, research analysts anticipate that Abacus Life will post 0.6 earnings per share for the current year.

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.