Piper Sandler Reaffirms Overweight Rating for Abacus Life (NASDAQ:ABL)

Piper Sandler restated their overweight rating on shares of Abacus Life (NASDAQ:ABL - Free Report) in a research report report published on Friday,Benzinga reports. They currently have a $13.00 target price on the stock, up from their prior target price of $12.00.

ABL has been the subject of a number of other reports. Northland Securities began coverage on Abacus Life in a research report on Thursday, October 24th. They set an "outperform" rating and a $13.50 price objective for the company. Northland Capmk upgraded shares of Abacus Life to a "strong-buy" rating in a report on Thursday, October 24th. 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 price target on the stock. B. Riley Financial reiterated a "buy" rating and issued a $16.00 price objective on shares of Abacus Life in a research note on Friday, August 30th. Finally, B. Riley reissued a "buy" rating and issued a $16.00 price objective (up from $15.00) on shares of Abacus Life in a research report on Thursday, August 29th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $14.50.

Abacus Life Price Performance

NASDAQ:ABL traded up $0.21 during trading hours on Friday, reaching $9.02. 41,193 shares of the company's stock were exchanged, compared to its average volume of 63,742. Abacus Life has a 12 month low of $5.75 and a 12 month high of $13.25. The company has a market capitalization of $673.34 million, a P/E ratio of -88.09 and a beta of 0.15. 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 business's 50-day simple moving average is $9.65 and its two-hundred day simple moving average is $10.10.

Abacus Life (NASDAQ:ABL - Get Free Report) last released its earnings results on Monday, August 12th. The company reported $0.18 earnings per share 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 business had revenue of $29.08 million for the quarter, compared to the consensus estimate of $28.57 million. During the same period last year, the firm posted $0.13 earnings per share. Sell-side analysts expect that Abacus Life will post 0.57 EPS for the current fiscal year.

Institutional Trading of Abacus Life

Institutional investors and hedge funds have recently modified their holdings of the company. Richard W. Paul & Associates LLC grew its stake in shares of Abacus Life by 4.8% in the 2nd 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. Renaissance Technologies LLC bought a new position in shares of Abacus Life in the second quarter worth about $106,000. Curi RMB Capital LLC grew its stake in shares of Abacus Life by 2.4% during the third quarter. Curi RMB Capital LLC now owns 550,000 shares of the company's stock valued at $5,566,000 after purchasing an additional 12,765 shares during the last quarter. Levin Capital Strategies L.P. acquired a new stake in shares of Abacus Life in the second quarter valued at approximately $130,000. Finally, Quarry LP acquired a new stake in shares of Abacus Life in the second quarter valued at approximately $318,000.

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.