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

Abacus Life (NASDAQ:ABL) was upgraded by analysts at Northland Capmk to a “strong-buy” rating in a report released on Thursday, Zacks.com reports.

ABL has been the topic of a number of other reports. B. Riley reaffirmed 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. Northland Securities started coverage on Abacus Life in a research report on Thursday. They set an “outperform” rating and a $13.50 price objective 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. Piper Sandler assumed coverage on shares of Abacus Life in a research report on Wednesday, June 26th. They issued an “overweight” rating and a $12.00 price target for the company. Finally, TD Cowen started 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. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Abacus Life currently has an average rating of “Buy” and an average target price of $14.30.

Abacus Life Price Performance

NASDAQ ABL opened at $9.10 on Thursday. The company has a 50-day moving average price of $9.96 and a 200-day moving average price of $10.32. Abacus Life has a 52 week low of $5.75 and a 52 week high of $13.25. 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 firm has a market capitalization of $581.72 million, a P/E ratio of 455.00 and a beta of 0.12.

Abacus Life (NASDAQ:ABL) last announced its earnings results on Monday, August 12th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.05. Abacus Life had a negative net margin of 6.19% and a positive return on equity of 7.02%. The company had revenue of $29.08 million during the quarter, compared to analyst estimates of $28.57 million. During the same period in the previous year, the business posted $0.13 earnings per share. Equities research analysts anticipate that Abacus Life will post 0.57 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Richard W. Paul & Associates LLC increased its holdings 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 purchasing an additional 1,401 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Abacus Life in the 2nd quarter worth approximately $106,000. Levin Capital Strategies L.P. bought a new position in shares of Abacus Life during the 2nd quarter valued at approximately $130,000. Quarry LP bought a new position in shares of Abacus Life during the 2nd quarter valued at approximately $318,000. Finally, Sei Investments Co. purchased a new position in shares of Abacus Life in the second quarter valued at $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.