Abacus Life (NASDAQ:ABL) Receives New Coverage from Analysts at TD Cowen

TD Cowen initiated coverage on shares of Abacus Life (NASDAQ:ABL) in a research note released on Wednesday morning, Marketbeat reports. The brokerage issued a buy rating and a $14.00 target price on the stock.

ABL has been the subject of a number of other reports. B. Riley Financial decreased their price target on Abacus Life from $16.00 to $15.00 and set a buy rating for the company in a research note on Monday, June 24th. B. Riley restated a buy rating and set a $15.00 target price (down from $16.00) on shares of Abacus Life in a report on Monday, June 24th. Finally, 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 price target for the company. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of Buy and an average target price of $14.00.

Abacus Life Price Performance

Shares of NASDAQ ABL opened at $10.59 on Wednesday. The company has a fifty day moving average price of $9.56 and a 200 day moving average price of $11.08. The firm has a market cap of $676.97 million, a PE ratio of 529.50 and a beta of 0.12. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 1.03. Abacus Life has a 1-year low of $5.75 and a 1-year high of $13.25.

Abacus Life (NASDAQ:ABL) last posted its quarterly earnings data on Monday, May 13th. The company reported $0.11 earnings per share for the quarter. Abacus Life had a return on equity of 4.96% and a net margin of 0.11%. The company had revenue of $21.49 million during the quarter. Research analysts predict that Abacus Life will post 0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Abacus Life

Several institutional investors and hedge funds have recently modified their holdings of ABL. Allspring Global Investments Holdings LLC bought a new position in shares of Abacus Life during the second quarter worth approximately $9,909,000. Principal Financial Group Inc. acquired a new stake in shares of Abacus Life during the second quarter worth $8,105,000. Stieven Capital Advisors L.P. bought a new stake in shares of Abacus Life in the second quarter valued at about $2,811,000. Quarry LP acquired a new position in shares of Abacus Life in the fourth quarter valued at about $463,000. Finally, Richard W. Paul & Associates LLC increased its position in Abacus Life by 4.8% during the second quarter. Richard W. Paul & Associates LLC now owns 30,448 shares of the company’s stock worth $263,000 after acquiring an additional 1,401 shares during the period.

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.