Abacus Life’s (ABL) “Buy” Rating Reiterated at B. Riley Financial

B. Riley Financial reiterated their buy rating on shares of Abacus Life (NASDAQ:ABL) in a report published on Friday, Stock Target Advisor reports. They currently have a $16.00 price target on the stock.

Other equities research analysts have also issued research reports about the stock. TD Cowen assumed coverage on shares of Abacus Life in a report on Wednesday, August 7th. They set a buy rating and a $14.00 price objective for the company. Piper Sandler initiated coverage on Abacus Life in a research report on Wednesday, June 26th. They issued an overweight rating and a $12.00 price objective for the company. Finally, B. Riley reiterated 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. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Abacus Life has an average rating of Buy and an average target price of $14.50.

Abacus Life Stock Performance

ABL stock opened at $10.21 on Friday. The stock has a market capitalization of $762.18 million, a PE ratio of 510.76 and a beta of 0.12. The stock’s 50 day simple moving average is $9.57 and its 200 day simple moving average is $10.87. Abacus Life has a 12-month low of $5.75 and a 12-month high of $13.25. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.59.

Abacus Life (NASDAQ:ABL) last released its quarterly earnings results on Monday, August 12th. The company reported $0.18 earnings per share (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 the consensus estimate of $28.57 million. During the same period in the previous year, the company posted $0.13 EPS. As a group, research analysts forecast that Abacus Life will post 0.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Abacus Life

Institutional investors have recently added to or reduced their stakes in the stock. Richard W. Paul & Associates LLC increased its position in shares of 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 during the fourth quarter worth about $463,000. Stieven Capital Advisors L.P. acquired a new stake in shares of Abacus Life during the second quarter worth approximately $2,811,000. Allspring Global Investments Holdings LLC bought a new position in shares of Abacus Life in the second quarter valued at approximately $9,909,000. Finally, Inscription Capital LLC acquired a new position in shares of Abacus Life in the 1st quarter worth approximately $137,000.

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.