Abacus Life (NASDAQ:ABL) Given New $17.00 Price Target at B. Riley

Abacus Life (NASDAQ:ABL) had its price objective boosted by equities research analysts at B. Riley from $16.00 to $17.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley’s price objective points to a potential upside of 121.35% from the company’s current price.

Several other equities research analysts have also issued reports on the company. Piper Sandler reaffirmed an “overweight” rating and set a $13.00 target price (up from $12.00) on shares of Abacus Life in a research report on Friday, November 8th. Northland Capmk upgraded shares of Abacus Life to a “strong-buy” rating in a research note on Thursday, October 24th. TD Cowen initiated coverage on Abacus Life in a research note on Wednesday, August 7th. They issued a “buy” rating and a $14.00 price objective on the stock. Northland Securities began coverage on Abacus Life in a research note on Thursday, October 24th. They issued an “outperform” rating and a $13.50 target price on the stock. Finally, B. Riley Financial reissued a “buy” rating and issued a $16.00 price target on shares of Abacus Life in a report on Friday, August 30th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $14.70.

Abacus Life Trading Up 1.7 %

NASDAQ:ABL traded up $0.13 on Monday, reaching $7.68. 220,870 shares of the stock traded hands, compared to its average volume of 76,177. The firm has a market capitalization of $573.31 million, a price-to-earnings ratio of -42.66 and a beta of 0.15. Abacus Life has a 1-year low of $6.56 and a 1-year high of $13.25. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.65. The company’s 50 day moving average is $9.30 and its 200-day moving average is $9.81.

Abacus Life (NASDAQ:ABL) last announced its earnings results on Thursday, November 7th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.14 by $0.06. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. The company had revenue of $28.15 million for the quarter, compared to analyst estimates of $26.08 million. During the same quarter in the prior year, the company earned $0.01 EPS. Equities research analysts anticipate that Abacus Life will post 0.62 EPS for the current fiscal year.

Institutional Investors Weigh In On Abacus Life

Institutional investors and hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC bought a new stake in Abacus Life in the 2nd quarter worth approximately $9,909,000. Principal Financial Group Inc. raised its stake in shares of Abacus Life by 7.9% during the third quarter. Principal Financial Group Inc. now owns 1,011,143 shares of the company’s stock worth $10,233,000 after acquiring an additional 74,172 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Abacus Life in the 2nd quarter worth $5,190,000. Curi RMB Capital LLC grew its holdings in shares of Abacus Life by 2.4% during the third quarter. Curi RMB Capital LLC now owns 550,000 shares of the company’s stock valued at $5,566,000 after buying an additional 12,765 shares during the last quarter. Finally, Mendon Capital Advisors Corp bought a new position in shares of Abacus Life during the second quarter valued at $4,974,000.

About Abacus Life

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.