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 research note issued to investors on Friday morning,Benzinga reports. Piper Sandler currently has a $13.00 price objective on the stock, up from their previous price objective of $12.00.

Other research analysts have also recently issued research reports about the stock. Northland Capmk raised shares of Abacus Life to a “strong-buy” rating in a research report on Thursday, October 24th. TD Cowen started coverage on shares of Abacus Life in a report on Wednesday, August 7th. They issued a “buy” rating and a $14.00 price objective on the stock. B. Riley Financial reiterated a “buy” rating and issued a $16.00 target price on shares of Abacus Life in a report on Friday, August 30th. Northland Securities started coverage on Abacus Life in a research note on Thursday, October 24th. They set an “outperform” rating and a $13.50 price target on the stock. Finally, B. Riley restated 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, August 29th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $14.50.

Abacus Life Price Performance

Shares of NASDAQ ABL opened at $9.02 on Friday. The firm has a 50-day simple moving average of $9.62 and a 200-day simple moving average of $10.06. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $673.35 million, a price-to-earnings ratio of -50.11 and a beta of 0.15. Abacus Life has a 52 week low of $5.75 and a 52 week high of $13.25.

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. Abacus Life had a positive return on equity of 7.02% and a negative net margin of 6.19%. The company had revenue of $29.08 million for the quarter, compared to analyst estimates of $28.57 million. During the same quarter in the previous year, the company posted $0.13 earnings per share. On average, equities analysts predict that Abacus Life will post 0.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Abacus Life

Hedge funds have recently made changes to their positions in the business. Royce & Associates LP boosted its holdings in shares of Abacus Life by 35.0% in the third quarter. Royce & Associates LP now owns 297,000 shares of the company’s stock valued at $3,006,000 after acquiring an additional 77,000 shares in the last quarter. Curi RMB Capital LLC boosted its holdings in Abacus Life by 2.4% in the 3rd quarter. Curi RMB Capital LLC now owns 550,000 shares of the company’s stock valued at $5,566,000 after purchasing an additional 12,765 shares in the last quarter. Principal Financial Group Inc. increased its position in Abacus Life by 7.9% during the 3rd quarter. Principal Financial Group Inc. now owns 1,011,143 shares of the company’s stock worth $10,233,000 after purchasing an additional 74,172 shares during the period. Evernest Financial Advisors LLC acquired a new position in Abacus Life during the 3rd quarter worth approximately $681,000. Finally, Richard W. Paul & Associates LLC raised its stake in shares of Abacus Life by 27.8% during the 3rd quarter. Richard W. Paul & Associates LLC now owns 38,902 shares of the company’s stock worth $394,000 after buying an additional 8,454 shares in the last quarter.

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.