Abacus Life’s (ABL) Overweight Rating Reaffirmed at Piper Sandler

Abacus Life (NASDAQ:ABL)‘s stock had its “overweight” rating restated by Piper Sandler in a report released on Friday,Benzinga reports. They presently have a $13.00 target price on the stock, up from their previous target price of $12.00. Piper Sandler’s price target would suggest a potential upside of 47.56% from the company’s previous close.

A number of other equities analysts have also weighed in on ABL. B. Riley restated a “buy” rating and set a $16.00 price target (up from $15.00) on shares of Abacus Life in a research report on Thursday, August 29th. B. Riley Financial restated a “buy” rating and set a $16.00 target price on shares of Abacus Life in a report on Friday, August 30th. Northland Capmk raised Abacus Life to a “strong-buy” rating in a report on Thursday, October 24th. Northland Securities started coverage on Abacus Life in a research note on Thursday, October 24th. They set an “outperform” rating and a $13.50 price objective on the stock. Finally, TD Cowen assumed coverage on shares of Abacus Life in a research report on Wednesday, August 7th. They set a “buy” rating and a $14.00 price target on the stock. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Abacus Life currently has a consensus rating of “Buy” and an average price target of $14.50.

Abacus Life Stock Up 1.4 %

ABL opened at $8.81 on Friday. The company has a fifty day moving average of $9.65 and a two-hundred day moving average of $10.10. The stock has a market capitalization of $657.67 million, a price-to-earnings ratio of -88.09 and a beta of 0.15. Abacus Life has a fifty-two week low of $5.75 and a fifty-two week high of $13.25. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.84 and a current ratio of 1.84.

Abacus Life (NASDAQ:ABL) last posted 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. Abacus Life had a positive return on equity of 7.02% and a negative net margin of 6.19%. The business had revenue of $29.08 million during the quarter, compared to analysts’ expectations of $28.57 million. During the same period in the previous year, the business earned $0.13 earnings per share. On average, research analysts expect that Abacus Life will post 0.57 earnings per share for the current year.

Institutional Investors Weigh In On Abacus Life

Hedge funds and other institutional investors have recently modified their holdings of the company. Richard W. Paul & Associates LLC grew 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 during the last quarter. Renaissance Technologies LLC purchased a new position in Abacus Life during the 2nd quarter worth $106,000. Curi RMB Capital LLC increased its stake in Abacus Life by 2.4% in 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 period. Levin Capital Strategies L.P. purchased a new stake in shares of Abacus Life in the second quarter valued at about $130,000. Finally, Quarry LP acquired a new stake in shares of Abacus Life during the second quarter worth about $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.