Abacus Life (NASDAQ:ABL - Get Free Report) released its quarterly earnings results on Thursday. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.02, Zacks reports. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. The business had revenue of $44.14 million during the quarter, compared to analyst estimates of $39.51 million.
Abacus Life Trading Up 1.5%
Shares of Abacus Life stock traded up $0.13 during mid-day trading on Tuesday, hitting $8.83. The stock had a trading volume of 640,848 shares, compared to its average volume of 194,015. The firm has a market cap of $855.21 million, a P/E ratio of -49.05 and a beta of 0.14. 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 firm has a 50-day moving average of $7.75 and a two-hundred day moving average of $7.84. Abacus Life has a 12-month low of $6.34 and a 12-month high of $12.40.
Institutional Investors Weigh In On Abacus Life
A hedge fund recently raised its stake in Abacus Life stock. Bison Wealth LLC grew its holdings in Abacus Life, Inc. (NASDAQ:ABL - Free Report) by 492.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 61,125 shares of the company's stock after purchasing an additional 50,800 shares during the quarter. Bison Wealth LLC owned 0.06% of Abacus Life worth $479,000 at the end of the most recent reporting period.
Wall Street Analysts Forecast Growth
ABL has been the subject of several analyst reports. Maxim Group assumed coverage on shares of Abacus Life in a report on Tuesday, April 29th. They issued a "buy" rating and a $14.00 target price for the company. Piper Sandler increased their price objective on shares of Abacus Life from $11.50 to $12.00 and gave the stock an "overweight" rating in a research note on Friday. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Abacus Life has a consensus rating of "Buy" and an average price target of $14.08.
View Our Latest Analysis on ABL
About Abacus Life
(
Get Free Report)
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.
Featured Stories
Before you consider Abacus Life, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Abacus Life wasn't on the list.
While Abacus Life currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
