B. Riley Financial reaffirmed their buy rating on shares of Abacus Life (NASDAQ:ABL – Free Report) in a research note published on Friday, Stock Target Advisor reports. B. Riley Financial currently has a $16.00 price target on the stock.
Several other equities research analysts have also issued reports on ABL. 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. TD Cowen started coverage on shares of Abacus Life in a research note on Wednesday, August 7th. They issued a buy rating and a $14.00 price objective for the company. Finally, Piper Sandler initiated coverage on shares of Abacus Life in a research note on Wednesday, June 26th. They set an overweight rating and a $12.00 target price on the stock. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of Buy and a consensus price target of $14.50.
Abacus Life Stock Up 2.1 %
Abacus Life (NASDAQ:ABL – Get Free Report) last posted its quarterly earnings data on Monday, August 12th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.05. The company had revenue of $29.08 million during the quarter, compared to analysts’ expectations 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 business earned $0.13 earnings per share. Equities research analysts forecast that Abacus Life will post 0.57 earnings per share for the current year.
Institutional Trading of Abacus Life
A number of institutional investors have recently made changes to their positions in ABL. Allspring Global Investments Holdings LLC acquired a new position in Abacus Life in the second quarter valued at approximately $9,909,000. Principal Financial Group Inc. purchased a new stake in shares of Abacus Life during the second quarter worth approximately $8,105,000. Point72 Asset Management L.P. purchased a new stake in shares of Abacus Life during the second quarter worth $5,190,000. Mendon Capital Advisors Corp acquired a new stake in Abacus Life in the 2nd quarter valued at about $4,974,000. Finally, Clearbridge Investments LLC acquired a new stake in shares of Abacus Life in the second quarter valued at approximately $4,342,000.
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.
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