Abacus Life (NASDAQ:ABL) Trading Up 7.1% – What’s Next?

Abacus Life, Inc. (NASDAQ:ABL)’s stock price traded up 7.1% on Wednesday . The stock traded as high as $9.09 and last traded at $9.03. 44,389 shares were traded during trading, a decline of 29% from the average session volume of 62,930 shares. The stock had previously closed at $8.43.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Northland Capmk raised Abacus Life to a “strong-buy” rating in a report on Thursday, October 24th. 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 research note on Thursday, August 29th. TD Cowen initiated coverage on shares of Abacus Life in a research note on Wednesday, August 7th. They issued a “buy” rating and a $14.00 target price on the stock. B. Riley Financial reiterated a “buy” rating and issued a $16.00 price target on shares of Abacus Life in a research report on Friday, August 30th. Finally, Northland Securities assumed coverage on shares of Abacus Life in a research note on Thursday, October 24th. They issued an “outperform” rating and a $13.50 price target 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $14.50.

Abacus Life Stock Up 5.1 %

The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market capitalization of $661.40 million, a price-to-earnings ratio of -50.16 and a beta of 0.15. The firm has a 50 day simple moving average of $9.40 and a 200-day simple moving average of $9.89.

Abacus Life (NASDAQ:ABL) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. The business had revenue of $28.15 million during the quarter, compared to the consensus estimate of $26.08 million. During the same quarter in the previous year, the firm earned $0.01 earnings per share. On average, sell-side analysts forecast that Abacus Life, Inc. will post 0.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ABL. Richard W. Paul & Associates LLC grew 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. Allspring Global Investments Holdings LLC acquired a new stake in Abacus Life in the second quarter valued at $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. Stieven Capital Advisors L.P. acquired a new stake in shares of Abacus Life in the second quarter valued at approximately $2,811,000. Finally, Levin Capital Strategies L.P. acquired a new position in Abacus Life during the second quarter valued at approximately $130,000.

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.