Evernest Financial Advisors LLC Acquires New Position in Abacus Life, Inc. (NASDAQ:ABL)

Evernest Financial Advisors LLC purchased a new stake in shares of Abacus Life, Inc. (NASDAQ:ABL - Free Report) in the third quarter, according to its most recent 13F filing with the SEC. The fund purchased 67,300 shares of the company's stock, valued at approximately $681,000. Evernest Financial Advisors LLC owned approximately 0.11% of Abacus Life at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ABL. B. Riley restated a "buy" rating and issued a $16.00 price target (up from $15.00) on shares of Abacus Life in a research report on Thursday, August 29th. TD Cowen began coverage on Abacus Life in a research report on Wednesday, August 7th. They issued a "buy" rating and a $14.00 price target for the company. Piper Sandler began coverage on Abacus Life in a research report on Wednesday, June 26th. They issued an "overweight" rating and a $12.00 price target for the company. Finally, B. Riley Financial reiterated a "buy" rating and issued a $16.00 price objective on shares of Abacus Life in a report on Friday, August 30th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $14.50.

Abacus Life Stock Down 8.8 %

Shares of NASDAQ ABL traded down $0.84 during mid-day trading on Tuesday, hitting $8.70. The company had a trading volume of 86,329 shares, compared to its average volume of 64,916. The company has a market capitalization of $556.15 million, a PE ratio of 453.00 and a beta of 0.12. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.84 and a quick ratio of 1.84. Abacus Life, Inc. has a 1-year low of $5.75 and a 1-year high of $13.25. The business's 50-day simple moving average is $10.07 and its 200 day simple moving average is $10.36.

Abacus Life (NASDAQ:ABL - Get Free Report) last posted its earnings results on Monday, August 12th. The company reported $0.18 EPS for the quarter, beating the consensus estimate 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 positive return on equity of 7.02% and a negative net margin of 6.19%. During the same quarter in the prior year, the company posted $0.13 earnings per share. On average, analysts predict that Abacus Life, Inc. will post 0.57 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.