Abacus Life ( NASDAQ:ABL ) share price rose 2.8%

Abacus Life, Inc. (NASDAQ:ABL – Get Your Free Report ) rose 2.8% on Wednesday. The stock traded as high as $10.15 and last traded at $10.15. About 1,784 shares were traded during trading, down 97% from the average daily volume of 54,435 shares. Shares previously closed at $9.87.

Changes in Analyst Ratings

ABL has been the subject of several recent research reports. TD Cowen assumed coverage on shares of Abacus Life in a research report on Wednesday, August 7th. They issued a “buy” rating and a $14.00 target price on the stock. Piper Sandler assumed coverage on shares of Abacus Life in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $12.00 target price on the stock. B. Riley Financial reiterated a “buy” rating and issued a $16.00 target price on shares of Abacus Life in a research note on Friday, August 30th. Finally, B. Riley reiterated a “buy” rating and issued a $16.00 target price (up previously from $15.00) on shares of Abacus Life in a research note on Thursday , August 29. Four research analysts have rated the stock with a buy rating. The company currently has an average rating of “Buy” and a consensus price target of $14.50, according to MarketBeat.

Check out the latest stock analysis on Abacus Life

Abacus Life Stock Performance

The firm has a market cap of $646.28 million, a PE ratio of 493.50 and a beta of 0.12. The company has a 50 day simple moving average of $9.87 and a two hundred day simple moving average of $10.69. The company has a quick ratio of 1.84, a current ratio of 1.84, and a debt-to-equity ratio of 0.59.

Abacus Life (NASDAQ:ABL – Get Free Report ) last posted its quarterly earnings results on Monday, August 12th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.05. The firm had revenue of $29.08 million for the quarter, compared to analysts’ expectations of $28.57 million. Abacus Life had a negative net margin of 6.19% and a positive return on equity of 7.02%. In the same period last year, the company posted earnings of $0.13 per share. As a group, equities research analysts forecast that Abacus Life, Inc. will post 0.57 earnings per share for the current fiscal year.

Institutional investors are weighing in on Abacus’s life

Hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new position in Abacus Life in the second quarter valued at approximately $9,909,000. Principal Financial Group Inc. purchased a new position in Abacus Life in the second quarter valued at approximately $8,105,000. Point72 Asset Management LP purchased a new stake in shares of Abacus Life in the second quarter valued at $5,190,000. Mendon Capital Advisors Corp purchased a new stake in Abacus Life in the second quarter valued at approximately $4,974,000. Finally, Clearbridge Investments LLC purchased a new position in shares of Abacus Life in the second quarter valued at $4,342,000.

Abacus Life Company Profile

(Get a free report)

Abacus Life, Inc operates as an alternative asset manager specializing in life insurance products. Purchases life insurance policies from consumers seeking liquidity and manages policies over time through trading, holding and/or servicing. The company was founded in 2004 and is headquartered in Orlando, Florida.

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