Abacus Life, Inc. (NASDAQ:ABL) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Abacus Life, Inc. (NASDAQ:ABL) has received an average rating of "Moderate Buy" from six research firms, with price objectives averaging $13.1250.
• Institutional investors are actively buying shares of Abacus Life, with several firms purchasing new stakes valued at amounts ranging from $25,000 to $41,000 in the second quarter.
• The company reported a better-than-expected EPS of $0.22 for the last quarter, exceeding analysts' estimates and generating revenues of $56.23 million.

Abacus Life, Inc. (NASDAQ:ABL - Get Free Report) has received an average recommendation of "Moderate Buy" from the six research firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $13.1250.

Several research firms have commented on ABL. Wall Street Zen upgraded shares of Abacus Life from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Abacus Life in a report on Wednesday. Finally, Piper Sandler reduced their price objective on Abacus Life from $12.00 to $10.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 2nd.

Institutional Trading of Abacus Life

Institutional investors have recently bought and sold shares of the stock. AlphaQuest LLC purchased a new position in Abacus Life during the second quarter worth $25,000. Darwin Wealth Management LLC bought a new stake in shares of Abacus Life in the 2nd quarter worth about $27,000. Raymond James Financial Inc. bought a new stake in shares of Abacus Life in the 2nd quarter worth about $34,000. Legal & General Group Plc purchased a new position in shares of Abacus Life during the 2nd quarter worth about $34,000. Finally, KLP Kapitalforvaltning AS bought a new position in Abacus Life during the 2nd quarter valued at about $41,000.

Abacus Life Stock Performance

NASDAQ:ABL opened at $5.96 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.76 and a quick ratio of 0.76. Abacus Life has a 1 year low of $4.60 and a 1 year high of $10.30. The stock's 50 day simple moving average is $6.26 and its two-hundred day simple moving average is $6.66. The company has a market cap of $576.69 million, a price-to-earnings ratio of -99.33 and a beta of -0.01.

Abacus Life (NASDAQ:ABL - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.22 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.06. Abacus Life had a positive return on equity of 17.65% and a negative net margin of 0.72%.The firm had revenue of $56.23 million during the quarter, compared to the consensus estimate of $43.38 million. As a group, equities analysts anticipate that Abacus Life will post 0.62 earnings per share for the current fiscal year.

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.

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