Abacus Life, Inc. (NASDAQ:ABL) Receives Average Recommendation of "Buy" from Analysts

Shares of Abacus Life, Inc. (NASDAQ:ABL - Get Free Report) have earned a consensus rating of "Buy" from the seven brokerages that are presently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $14.08.

Several equities analysts have recently issued reports on ABL shares. Piper Sandler boosted their price objective on Abacus Life from $11.50 to $12.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Maxim Group started coverage on Abacus Life in a research report on Tuesday, April 29th. They set a "buy" rating and a $14.00 price objective for the company.

Institutional Investors Weigh In On Abacus Life

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ABL. Allspring Global Investments Holdings LLC raised its holdings in Abacus Life by 23.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,399,204 shares of the company's stock worth $10,830,000 after purchasing an additional 263,036 shares in the last quarter. Stieven Capital Advisors L.P. raised its holdings in Abacus Life by 128.2% during the fourth quarter. Stieven Capital Advisors L.P. now owns 741,810 shares of the company's stock worth $5,808,000 after purchasing an additional 416,800 shares in the last quarter. Richard W. Paul & Associates LLC raised its holdings in Abacus Life by 7.5% during the fourth quarter. Richard W. Paul & Associates LLC now owns 41,836 shares of the company's stock worth $328,000 after purchasing an additional 2,934 shares in the last quarter. Royce & Associates LP raised its holdings in Abacus Life by 339.9% during the fourth quarter. Royce & Associates LP now owns 1,306,431 shares of the company's stock worth $10,229,000 after purchasing an additional 1,009,431 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in Abacus Life by 38.8% during the fourth quarter. Sei Investments Co. now owns 81,525 shares of the company's stock worth $638,000 after purchasing an additional 22,783 shares in the last quarter.

Abacus Life Stock Performance

Shares of ABL stock opened at $5.72 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.65. The business has a 50 day moving average of $7.95 and a two-hundred day moving average of $7.78. Abacus Life has a 52 week low of $5.10 and a 52 week high of $12.39. The company has a market cap of $554.00 million, a P/E ratio of -31.78 and a beta of 0.14.

Abacus Life (NASDAQ:ABL - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. The business had revenue of $44.14 million during the quarter, compared to the consensus estimate of $39.51 million. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. As a group, analysts anticipate that Abacus Life will post 0.62 EPS for the current year.

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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