Abacus Life, Inc. (NASDAQ:ABL - Free Report) - Investment analysts at B. Riley increased their FY2024 earnings estimates for shares of Abacus Life in a note issued to investors on Monday, November 25th. B. Riley analyst M. Howlett now forecasts that the company will post earnings per share of $0.66 for the year, up from their previous estimate of $0.58. B. Riley currently has a "Buy" rating and a $17.00 target price on the stock. The consensus estimate for Abacus Life's current full-year earnings is $0.62 per share. B. Riley also issued estimates for Abacus Life's Q4 2024 earnings at $0.18 EPS.
Abacus Life (NASDAQ:ABL - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.06. Abacus Life had a negative net margin of 11.65% and a positive return on equity of 12.88%. The firm had revenue of $28.15 million during the quarter, compared to the consensus estimate of $26.08 million. During the same period last year, the firm posted $0.01 EPS.
Several other research firms have also weighed in on ABL. B. Riley Financial reaffirmed a "buy" rating and issued a $16.00 price objective on shares of Abacus Life in a research note on Friday, August 30th. Piper Sandler restated an "overweight" rating and set a $13.00 target price (up previously from $12.00) on shares of Abacus Life in a report on Friday, November 8th. Northland Capmk raised Abacus Life to a "strong-buy" rating in a research report on Thursday, October 24th. Northland Securities assumed coverage on Abacus Life in a report on Thursday, October 24th. They set an "outperform" rating and a $13.50 target price on the stock. Finally, TD Cowen assumed coverage on shares of Abacus Life in a research report on Wednesday, August 7th. They issued a "buy" rating and a $14.00 price objective for the company. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $14.70.
Check Out Our Latest Research Report on Abacus Life
Abacus Life Trading Up 2.0 %
Shares of Abacus Life stock traded up $0.15 during mid-day trading on Tuesday, hitting $7.82. 678,040 shares of the stock were exchanged, compared to its average volume of 80,796. The stock has a market capitalization of $583.77 million, a price-to-earnings ratio of -43.83 and a beta of 0.15. Abacus Life has a twelve month low of $6.56 and a twelve month high of $13.25. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.65. The company has a 50-day simple moving average of $9.26 and a 200 day simple moving average of $9.78.
Insider Transactions at Abacus Life
In other Abacus Life news, CEO Jay J. Jackson sold 2,031,250 shares of the business's stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $8.00, for a total value of $16,250,000.00. Following the completion of the sale, the chief executive officer now directly owns 10,562,000 shares of the company's stock, valued at $84,496,000. The trade was a 16.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Matthew Ganovsky sold 156,250 shares of the firm's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $8.00, for a total transaction of $1,250,000.00. Following the transaction, the insider now owns 10,847,047 shares in the company, valued at $86,776,376. This represents a 1.42 % decrease in their position. The disclosure for this sale can be found here. 79.20% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Abacus Life
Several large investors have recently made changes to their positions in the business. Renaissance Technologies LLC bought a new stake in Abacus Life during the 2nd quarter worth approximately $106,000. Levin Capital Strategies L.P. bought a new stake in Abacus Life during the 2nd quarter worth approximately $130,000. Richard W. Paul & Associates LLC increased its holdings 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 purchasing an additional 1,401 shares in the last quarter. Quarry LP bought a new stake in Abacus Life in the 2nd quarter valued at approximately $318,000. Finally, Sei Investments Co. acquired a new stake in Abacus Life in the 2nd quarter valued at $418,000.
About Abacus Life
(
Get Free Report)
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.
See Also
Before you consider Abacus Life, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Abacus Life wasn't on the list.
While Abacus Life currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat's analysts have just released their top five short plays for December 2024. Learn which stocks have the most short interest and how to trade them. Click the link below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
