Abacus Life, Inc. (NASDAQ:ABL) Given Consensus Rating of "Buy" by Brokerages

Shares of Abacus Life, Inc. (NASDAQ:ABL - Get Free Report) have been given a consensus recommendation of "Buy" by the six brokerages that are currently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $14.50.

A number of analysts have issued reports on ABL shares. B. Riley reissued a "buy" rating and issued a $16.00 price objective (up previously from $15.00) on shares of Abacus Life in a report on Thursday, August 29th. Northland Capmk raised Abacus Life to a "strong-buy" rating in a report on Thursday, October 24th. Piper Sandler reaffirmed an "overweight" rating and issued a $13.00 price target (up previously from $12.00) on shares of Abacus Life in a research note on Friday, November 8th. B. Riley Financial reiterated a "buy" rating and set a $16.00 price objective on shares of Abacus Life in a research note on Friday, August 30th. Finally, TD Cowen initiated coverage on shares of Abacus Life in a research report on Wednesday, August 7th. They issued a "buy" rating and a $14.00 target price for the company.

Institutional Trading of Abacus Life

A number of institutional investors and hedge funds have recently bought and sold shares of ABL. Allspring Global Investments Holdings LLC bought a new stake in shares of Abacus Life in the 2nd quarter valued at about $9,909,000. Principal Financial Group Inc. bought a new stake in Abacus Life in the second quarter valued at approximately $8,105,000. Point72 Asset Management L.P. acquired a new stake in Abacus Life during the 2nd quarter valued at approximately $5,190,000. Mendon Capital Advisors Corp bought a new position in Abacus Life during the 2nd quarter worth approximately $4,974,000. Finally, Clearbridge Investments LLC bought a new position in Abacus Life during the 2nd quarter worth approximately $4,342,000.

Abacus Life Stock Performance

Shares of NASDAQ:ABL traded up $0.09 during trading on Monday, reaching $8.43. 27,710 shares of the stock were exchanged, compared to its average volume of 63,177. The firm has a market cap of $629.31 million, a PE ratio of -46.33 and a beta of 0.15. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.65. Abacus Life has a 12 month low of $6.22 and a 12 month high of $13.25. The stock has a 50-day moving average price of $9.46 and a 200-day moving average price of $9.94.

Abacus Life (NASDAQ:ABL - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.20 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $26.08 million. During the same period in the prior year, the firm posted $0.01 EPS. Research analysts expect that Abacus Life will post 0.6 EPS for the current fiscal year.

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.