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

Key Points

• Abacus Life, Inc. has received a consensus recommendation of "Buy" from five research firms, with an average twelve-month target price of $13.1250.
• The company recently reported earnings of $0.22 EPS, exceeding analysts' estimates of $0.16, along with a revenue of $56.23 million for the quarter.
• Large institutional investors, including Goldman Sachs and Royce & Associates, have increased their holdings significantly in Abacus Life over recent quarters, indicating growing confidence in the company.

Abacus Life, Inc. (NASDAQ:ABL - Get Free Report) has been assigned an average recommendation of "Buy" from the five research firms that are covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $13.1250.

A number of research firms have recently weighed in on ABL. Wall Street Zen raised Abacus Life from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Piper Sandler cut their price objective on Abacus Life from $12.00 to $10.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 2nd.

Abacus Life Stock Up 1.6%

NASDAQ:ABL opened at $6.55 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.57. The stock's fifty day moving average is $5.94 and its two-hundred day moving average is $6.84. Abacus Life has a 52 week low of $4.60 and a 52 week high of $10.95. The stock has a market capitalization of $633.78 million, a price-to-earnings ratio of -109.17 and a beta of 0.03.

Abacus Life (NASDAQ:ABL - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.22 EPS for the quarter, topping 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 company had revenue of $56.23 million for the quarter, compared to analysts' expectations of $43.38 million. Research analysts anticipate that Abacus Life will post 0.62 EPS for the current year.

Institutional Trading of Abacus Life

A number of large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. increased its position in shares of Abacus Life by 13.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,928,293 shares of the company's stock worth $14,443,000 after acquiring an additional 221,712 shares during the period. Royce & Associates LP increased its holdings in Abacus Life by 39.6% in the first quarter. Royce & Associates LP now owns 1,824,253 shares of the company's stock valued at $13,664,000 after buying an additional 517,822 shares during the last quarter. Mendon Capital Advisors Corp increased its holdings in Abacus Life by 13.9% in the second quarter. Mendon Capital Advisors Corp now owns 1,619,342 shares of the company's stock valued at $8,323,000 after buying an additional 197,171 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Abacus Life by 6.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,475,053 shares of the company's stock valued at $7,818,000 after buying an additional 86,705 shares during the last quarter. Finally, Curi Capital LLC increased its holdings in Abacus Life by 3.9% in the second quarter. Curi Capital LLC now owns 1,325,000 shares of the company's stock valued at $6,810,000 after buying an additional 50,000 shares during the last quarter.

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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