Abacus Life (NASDAQ:ABL) Upgraded at Northland Capmk

Northland Capmk upgraded shares of Abacus Life (NASDAQ:ABL) to a strong-buy rating in a report released on Thursday morning, Zacks.com reports.

Several other equities research analysts have also recently issued reports on the stock. TD Cowen initiated coverage on shares of Abacus Life in a research report on Wednesday, August 7th. They set a “buy” rating and a $14.00 price objective on the stock. B. Riley Financial reiterated a “buy” rating and issued a $16.00 price target on shares of Abacus Life in a report on Friday, August 30th. B. Riley reissued a “buy” rating and set a $16.00 price objective (up previously from $15.00) on shares of Abacus Life in a report on Thursday, August 29th. Northland Securities started coverage on Abacus Life in a report on Thursday. They issued an “outperform” rating and a $13.50 target price on the stock. Finally, Piper Sandler started coverage on Abacus Life in a report on Wednesday, June 26th. They set an “overweight” rating and a $12.00 price objective on the stock. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $14.30.

Abacus Life Trading Down 0.8 %

Shares of Abacus Life stock opened at $9.03 on Thursday. 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. The company has a market capitalization of $674.09 million, a P/E ratio of -90.29 and a beta of 0.12. The company has a fifty day moving average of $9.94 and a 200 day moving average of $10.29.

Abacus Life (NASDAQ:ABL) last released its quarterly earnings data on Monday, August 12th. The company reported $0.18 earnings per share 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 analyst estimates of $28.57 million. Abacus Life had a positive return on equity of 7.02% and a negative net margin of 6.19%. During the same quarter in the prior year, the company posted $0.13 earnings per share. On average, sell-side analysts anticipate that Abacus Life will post 0.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Abacus Life

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