Maxim Group Initiates Coverage on Abacus Life (NASDAQ:ABL)

Stock analysts at Maxim Group initiated coverage on shares of Abacus Life (NASDAQ:ABL - Get Free Report) in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. The firm set a "buy" rating and a $14.00 price target on the stock. Maxim Group's price objective would indicate a potential upside of 69.90% from the company's previous close.

Several other research analysts also recently commented on the stock. Piper Sandler lowered their price objective on shares of Abacus Life from $13.00 to $11.50 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. B. Riley lowered their price target on shares of Abacus Life from $17.00 to $15.00 and set a "buy" rating for the company in a report on Tuesday, January 7th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $14.00.

Abacus Life Stock Down 0.4 %

NASDAQ ABL opened at $8.24 on Tuesday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.65. Abacus Life has a 1-year low of $6.34 and a 1-year high of $12.40. The company has a 50 day moving average of $7.60 and a 200-day moving average of $7.91. The company has a market cap of $798.07 million, a price-to-earnings ratio of -45.78 and a beta of 0.16.

Abacus Life (NASDAQ:ABL - Get Free Report) last released its quarterly earnings results on Thursday, March 27th. The company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.13 by $0.03. Abacus Life had a negative net margin of 11.65% and a positive return on equity of 12.88%. The company had revenue of $33.21 million during the quarter, compared to the consensus estimate of $28.76 million. On average, equities research analysts expect that Abacus Life will post 0.62 earnings per share for the current fiscal year.

Institutional Trading of Abacus Life

A number of institutional investors have recently bought and sold shares of ABL. Geneos Wealth Management Inc. bought a new stake in Abacus Life during the fourth quarter valued at $110,000. Squarepoint Ops LLC bought a new stake in Abacus Life during the fourth quarter worth $113,000. JPMorgan Chase & Co. grew its holdings in Abacus Life by 640.9% during the fourth quarter. JPMorgan Chase & Co. now owns 16,670 shares of the company's stock worth $131,000 after buying an additional 14,420 shares in the last quarter. LPL Financial LLC grew its holdings in Abacus Life by 31.0% during the fourth quarter. LPL Financial LLC now owns 23,288 shares of the company's stock worth $182,000 after buying an additional 5,507 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in Abacus Life during the fourth quarter worth $193,000.

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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