Abacus Life (NASDAQ:ABL) Rating Increased to Strong-Buy at Northland Capmk

Abacus Life (NASDAQ:ABL) was upgraded by equities researchers at Northland Capmk to a “strong-buy” rating in a research note issued on Thursday, Zacks.com reports.

Several other brokerages have also recently issued reports on ABL. Northland Securities started coverage on shares of Abacus Life in a research report on Thursday. They issued an “outperform” rating and a $13.50 price target for the company. B. Riley Financial restated a “buy” rating and issued a $16.00 price objective on shares of Abacus Life in a report on Friday, August 30th. B. Riley reaffirmed a “buy” rating and set a $16.00 target price (up from $15.00) on shares of Abacus Life in a report on Thursday, August 29th. TD Cowen assumed coverage on Abacus Life in a research note on Wednesday, August 7th. They issued a “buy” rating and a $14.00 price target for the company. Finally, Piper Sandler initiated coverage on Abacus Life in a research report on Wednesday, June 26th. They set an “overweight” rating and a $12.00 price objective 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. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $14.30.

Abacus Life Stock Performance

NASDAQ:ABL opened at $9.03 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. The firm has a market capitalization of $577.24 million, a PE ratio of 451.50 and a beta of 0.12. Abacus Life has a twelve month low of $5.75 and a twelve month high of $13.25. The stock’s 50-day simple moving average is $9.94 and its 200 day simple moving average is $10.30.

Abacus Life (NASDAQ:ABL) last issued its earnings results on Monday, August 12th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.05. The firm had revenue of $29.08 million for the quarter, compared to analyst estimates of $28.57 million. Abacus Life had a negative net margin of 6.19% and a positive return on equity of 7.02%. During the same quarter last year, the business posted $0.13 earnings per share. On average, analysts anticipate that Abacus Life will post 0.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC bought a new position in shares of Abacus Life in the second quarter valued at approximately $9,909,000. Principal Financial Group Inc. purchased a new stake in Abacus Life in the 2nd quarter valued at $8,105,000. Point72 Asset Management L.P. bought a new position in Abacus Life during the 2nd quarter valued at $5,190,000. Mendon Capital Advisors Corp purchased a new position in Abacus Life during the 2nd quarter worth $4,974,000. Finally, Clearbridge Investments LLC bought a new stake in shares of Abacus Life in the 2nd quarter worth $4,342,000.

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.