Abacus Life (NASDAQ:ABL) Now Covered by Analysts at Northland Securities

Equities research analysts at Northland Securities initiated coverage on shares of Abacus Life (NASDAQ:ABL) in a note issued to investors on Thursday, Briefing.com reports. The brokerage set an “outperform” rating and a $13.50 price target on the stock. Northland Securities’ price target suggests a potential upside of 53.58% from the stock’s previous close.

Several other brokerages have also weighed in on ABL. TD Cowen assumed coverage on Abacus Life in a report on Wednesday, August 7th. They issued a “buy” rating and a $14.00 price objective for the company. 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 price target for the company. B. Riley reaffirmed a “buy” rating and set a $16.00 target price (up previously from $15.00) on shares of Abacus Life in a research note on Thursday, August 29th. Finally, B. Riley Financial restated a “buy” rating and set a $16.00 price target on shares of Abacus Life in a report on Friday, August 30th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $14.30.

Abacus Life Trading Up 1.0 %

Shares of ABL opened at $8.79 on Thursday. The stock has a fifty day moving average of $10.00 and a two-hundred day moving average of $10.33. Abacus Life has a fifty-two week low of $5.75 and a fifty-two week high of $13.25. The company has a market capitalization of $561.90 million, a PE ratio of 439.50 and a beta of 0.12. 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 earnings results on Monday, August 12th. The company reported $0.18 earnings per share (EPS) for the quarter, topping 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 in the prior year, the company earned $0.13 EPS. As a group, analysts forecast that Abacus Life will post 0.57 EPS for the current year.

Institutional Trading of Abacus Life

A number of hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC bought a new stake in shares of Abacus Life in the 2nd quarter worth approximately $106,000. Levin Capital Strategies L.P. bought a new stake in shares of Abacus Life during the second quarter worth $130,000. Richard W. Paul & Associates LLC lifted its position 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 valued at $263,000 after purchasing an additional 1,401 shares during the period. Quarry LP bought a new position in Abacus Life in the second quarter valued at approximately $318,000. Finally, Sei Investments Co. bought a new position in shares of Abacus Life in the 2nd quarter worth $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.