Abacus Life (NASDAQ:ABL) Receives New Coverage from Analysts at Northland Securities

Analysts at Northland Securities began coverage on shares of Abacus Life (NASDAQ:ABL - Get Free Report) in a report issued on Thursday, Marketbeat reports. The firm set an "outperform" rating and a $13.50 price target on the stock. Northland Securities' price target points to a potential upside of 48.35% from the company's current price.

A number of other brokerages have also recently issued reports on ABL. Piper Sandler started coverage on shares of Abacus Life in a report on Wednesday, June 26th. They issued an "overweight" rating and a $12.00 target price for the company. B. Riley Financial reaffirmed a "buy" rating and issued a $16.00 target price on shares of Abacus Life in a report on Friday, August 30th. B. Riley reaffirmed a "buy" rating and issued a $16.00 target price (up from $15.00) on shares of Abacus Life in a report on Thursday, August 29th. Finally, TD Cowen started coverage on shares of Abacus Life in a report on Wednesday, August 7th. They issued a "buy" rating and a $14.00 target price for the company. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of "Buy" and an average target price of $14.30.

Abacus Life Stock Performance

NASDAQ:ABL traded up $0.31 during mid-day trading on Thursday, reaching $9.10. The stock had a trading volume of 136,430 shares, compared to its average volume of 65,173. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market capitalization of $581.72 million, a price-to-earnings ratio of 444.00 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 business has a 50 day simple moving average of $10.00 and a 200 day simple moving average of $10.33.

Abacus Life (NASDAQ:ABL - Get Free Report) last announced its quarterly earnings data on Monday, August 12th. The company reported $0.18 EPS for the quarter, beating analysts' consensus estimates of $0.13 by $0.05. The firm had revenue of $29.08 million during the quarter, compared to the consensus estimate 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 firm earned $0.13 earnings per share. On average, analysts expect that Abacus Life will post 0.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Richard W. Paul & Associates LLC grew its stake in Abacus Life by 4.8% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 30,448 shares of the company's stock worth $263,000 after acquiring an additional 1,401 shares during the period. Renaissance Technologies LLC purchased a new stake in Abacus Life in the 2nd quarter worth approximately $106,000. Levin Capital Strategies L.P. purchased a new stake in Abacus Life in the 2nd quarter worth approximately $130,000. Quarry LP purchased a new stake in Abacus Life in the 2nd quarter worth approximately $318,000. Finally, Sei Investments Co. purchased a new stake in Abacus Life in the 2nd quarter worth approximately $418,000.

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.