Abacus Life (NASDAQ:ABL) Upgraded to “Strong-Buy” by Northland Capmk

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

A number of other equities research analysts have also weighed in on the company. B. Riley reiterated a “buy” rating and issued a $16.00 price objective (up from $15.00) on shares of Abacus Life in a research report on Thursday, August 29th. B. Riley Financial restated a “buy” rating and set a $16.00 price objective on shares of Abacus Life in a research report on Friday, August 30th. TD Cowen began coverage on Abacus Life in a research note on Wednesday, August 7th. They issued a “buy” rating and a $14.00 price objective on the stock. Northland Securities initiated coverage on shares of Abacus Life in a research note on Thursday. They set an “outperform” rating and a $13.50 target price on the stock. Finally, Piper Sandler assumed coverage on Abacus Life in a report on Wednesday, June 26th. They issued an “overweight” rating and a $12.00 price target on the stock. Five 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 Up 3.5 %

NASDAQ:ABL opened at $9.10 on Thursday. The firm has a 50-day moving average of $9.96 and a 200-day moving average of $10.32. The company has a market cap of $581.72 million, a PE ratio of 455.00 and a beta of 0.12. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.84 and a quick ratio of 1.84. Abacus Life has a one year low of $5.75 and a one year high of $13.25.

Abacus Life (NASDAQ:ABL) last released its quarterly earnings results on Monday, August 12th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.05. The firm had revenue of $29.08 million for the quarter, compared to analysts’ expectations of $28.57 million. Abacus Life had a negative net margin of 6.19% and a positive return on equity of 7.02%. During the same quarter in the prior year, the firm posted $0.13 earnings per share. As a group, equities research analysts expect that Abacus Life will post 0.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Abacus Life

Several hedge funds have recently made changes to their positions in the company. Evernest Financial Advisors LLC purchased a new stake in Abacus Life during the third quarter worth $681,000. Principal Financial Group Inc. acquired a new stake in shares of Abacus Life during the 2nd quarter worth about $8,105,000. Mendon Capital Advisors Corp purchased a new stake in shares of Abacus Life in the 2nd quarter valued at approximately $4,974,000. Clearbridge Investments LLC purchased a new position in Abacus Life during the 2nd quarter valued at about $4,342,000. Finally, Richard W. Paul & Associates LLC grew its stake in shares of Abacus Life by 4.8% in the second 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 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.