Abacus Life (NASDAQ:ABL) Coverage Initiated by Analysts at Maxim Group

Stock analysts at Maxim Group initiated coverage on shares of Abacus Life (NASDAQ:ABL) in a research note issued to investors on Tuesday, Marketbeat reports. The firm set a “buy” rating and a $14.00 price target on the stock. Maxim Group’s price target points to a potential upside of 69.49% from the stock’s current price.

ABL has been the subject of a number of other reports. Piper Sandler decreased their price target on Abacus Life from $13.00 to $11.50 and set an “overweight” rating for the company in a report on Tuesday, April 8th. B. Riley reduced their price target on shares of Abacus Life from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $14.00.

Abacus Life Price Performance

ABL stock opened at $8.26 on Tuesday. The business’s 50-day moving average is $7.62 and its two-hundred day moving average is $7.92. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market capitalization of $800.01 million, a P/E ratio of -45.89 and a beta of 0.16. Abacus Life has a 1 year low of $6.34 and a 1 year high of $12.40.

Abacus Life (NASDAQ:ABL) last issued its quarterly earnings results on Thursday, March 27th. The company reported $0.16 earnings per share (EPS) for the quarter, topping 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. Analysts anticipate that Abacus Life will post 0.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. acquired a new stake in shares of Abacus Life during the fourth quarter worth about $110,000. Squarepoint Ops LLC purchased a new stake in Abacus Life during the 4th quarter valued at approximately $113,000. JPMorgan Chase & Co. raised its stake in Abacus Life by 640.9% during the 4th quarter. JPMorgan Chase & Co. now owns 16,670 shares of the company’s stock valued at $131,000 after acquiring an additional 14,420 shares during the last quarter. LPL Financial LLC lifted its position in Abacus Life by 31.0% during the 4th quarter. LPL Financial LLC now owns 23,288 shares of the company’s stock worth $182,000 after acquiring an additional 5,507 shares during the period. Finally, XTX Topco Ltd purchased a new position in shares of Abacus Life in the 4th quarter valued at approximately $193,000.

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.