Evernest Financial Advisors LLC Invests $681,000 in Abacus Life, Inc. (NASDAQ:ABL)

Evernest Financial Advisors LLC acquired a new stake in shares of Abacus Life, Inc. (NASDAQ:ABL) in the third quarter, HoldingsChannel reports. The institutional investor acquired 67,300 shares of the company’s stock, valued at approximately $681,000.

Other large investors have also added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new position in shares of Abacus Life during the second quarter valued at $106,000. Levin Capital Strategies L.P. bought a new stake in shares of Abacus Life in the second quarter worth approximately $130,000. Richard W. Paul & Associates LLC raised its holdings in shares of Abacus Life by 4.8% during the second 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 last quarter. Quarry LP bought a new position in Abacus Life during the second quarter valued at approximately $318,000. Finally, Sei Investments Co. purchased a new stake in Abacus Life in the second quarter worth approximately $418,000.

Abacus Life Price Performance

ABL stock opened at $9.54 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.84 and a current ratio of 1.84. The company’s fifty day moving average price is $10.07 and its 200-day moving average price is $10.36. Abacus Life, Inc. has a one year low of $5.75 and a one year high of $13.25. The company has a market capitalization of $609.84 million, a PE ratio of 477.00 and a beta of 0.12.

Abacus Life (NASDAQ:ABL) last released its quarterly earnings data on Monday, August 12th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.13 by $0.05. Abacus Life had a negative net margin of 6.19% and a positive return on equity of 7.02%. The business had revenue of $29.08 million during the quarter, compared to the consensus estimate of $28.57 million. During the same quarter in the prior year, the firm earned $0.13 EPS. On average, equities analysts anticipate that Abacus Life, Inc. will post 0.57 EPS for the current fiscal year.

Analyst Ratings Changes

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 note on Thursday, August 29th. B. Riley Financial restated a “buy” rating and issued a $16.00 price target on shares of Abacus Life in a research report on Friday, August 30th. Piper Sandler started coverage on shares of Abacus Life in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $12.00 price objective for the company. Finally, TD Cowen assumed coverage on shares of Abacus Life in a research note on Wednesday, August 7th. They set a “buy” rating and a $14.00 target price on the stock. Four analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $14.50.

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.