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Abacus Life's (ABL) "Sell (E+)" Rating Reiterated at Weiss Ratings

Abacus Life logo with Finance background

Key Points

  • Weiss Ratings has reiterated a "sell" rating for Abacus Life (NASDAQ: ABL), indicating a cautious outlook for the stock.
  • The stock has experienced a trading increase of 2.0%, reaching $5.94, with an average target price consensus of $13.13 from analysts.
  • Recent quarterly earnings surpassed estimates, with Abacus Life reporting $0.22 EPS against a consensus of $0.16 and revenues of $56.23 million.
  • Five stocks to consider instead of Abacus Life.

Abacus Life (NASDAQ:ABL - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by equities researchers at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Several other equities analysts have also commented on the stock. Piper Sandler decreased their price objective on shares of Abacus Life from $12.00 to $10.00 and set an "overweight" rating on the stock in a report on Wednesday, July 2nd. Wall Street Zen upgraded shares of Abacus Life from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $13.13.

Get Our Latest Research Report on Abacus Life

Abacus Life Trading Up 2.0%

NASDAQ:ABL traded up $0.11 on Wednesday, hitting $5.94. The stock had a trading volume of 124,264 shares, compared to its average volume of 635,127. The company has a fifty day moving average price of $6.25 and a two-hundred day moving average price of $6.67. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.57. Abacus Life has a 1-year low of $4.60 and a 1-year high of $10.30. The stock has a market cap of $575.14 million, a price-to-earnings ratio of -98.92 and a beta of -0.01.

Abacus Life (NASDAQ:ABL - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.16 by $0.06. Abacus Life had a negative net margin of 0.72% and a positive return on equity of 17.65%. The firm had revenue of $56.23 million for the quarter, compared to analyst estimates of $43.38 million. Equities research analysts expect that Abacus Life will post 0.62 earnings per share for the current fiscal year.

Institutional Trading of Abacus Life

Several hedge funds have recently made changes to their positions in ABL. AlphaQuest LLC acquired a new stake in shares of Abacus Life in the 2nd quarter worth $25,000. Darwin Wealth Management LLC acquired a new stake in shares of Abacus Life in the second quarter valued at about $27,000. Raymond James Financial Inc. acquired a new stake in shares of Abacus Life in the second quarter valued at about $34,000. Legal & General Group Plc acquired a new stake in shares of Abacus Life in the second quarter valued at about $34,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Abacus Life in the second quarter valued at about $41,000.

Abacus Life Company Profile

(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.

See Also

Analyst Recommendations for Abacus Life (NASDAQ:ABL)

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