Abacus Life’s (ABL) “Overweight” Rating Reiterated at Piper Sandler

Piper Sandler reissued their overweight rating on shares of Abacus Life (NASDAQ:ABL) in a report published on Friday morning,Benzinga reports. Piper Sandler currently has a $13.00 target price on the stock, up from their previous target price of $12.00.

Other equities research analysts have also recently issued reports about the company. Northland Securities initiated coverage on Abacus Life in a research note on Thursday, October 24th. They issued an “outperform” rating and a $13.50 price target on the stock. B. Riley Financial reissued a “buy” rating and issued a $16.00 target price on shares of Abacus Life in a report on Friday, August 30th. TD Cowen began coverage on Abacus Life in a report on Wednesday, August 7th. They issued a “buy” rating and a $14.00 target price on the stock. B. Riley reissued a “buy” rating and issued a $16.00 target price (up from $15.00) on shares of Abacus Life in a report on Thursday, August 29th. Finally, Northland Capmk raised Abacus Life to a “strong-buy” rating in a report on Thursday, October 24th. Five 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 an average rating of “Buy” and a consensus target price of $14.50.

Abacus Life Price Performance

Shares of Abacus Life stock opened at $8.56 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.84 and a quick ratio of 1.84. The business’s 50 day simple moving average is $9.59 and its two-hundred day simple moving average is $10.03. The stock has a market capitalization of $639.00 million, a P/E ratio of -47.55 and a beta of 0.15. Abacus Life has a one year low of $5.75 and a one year high of $13.25.

Abacus Life (NASDAQ:ABL) last posted its earnings results on Thursday, November 7th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.06. Abacus Life had a positive return on equity of 13.90% and a negative net margin of 11.65%. The firm had revenue of $28.15 million for the quarter, compared to analysts’ expectations of $26.08 million. During the same period in the previous year, the firm earned $0.01 earnings per share. Analysts forecast that Abacus Life will post 0.6 EPS for the current year.

Institutional Investors Weigh In On Abacus Life

Several institutional investors have recently modified their holdings of the stock. Richard W. Paul & Associates LLC lifted its stake 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 acquiring an additional 1,401 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Abacus Life during the 2nd quarter worth approximately $9,909,000. Principal Financial Group Inc. bought a new stake in shares of Abacus Life during the 2nd quarter worth approximately $8,105,000. Stieven Capital Advisors L.P. purchased a new position in Abacus Life during the 2nd quarter worth $2,811,000. Finally, Levin Capital Strategies L.P. purchased a new position in Abacus Life during the 2nd quarter worth $130,000.

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.