Piper Sandler Initiates Coverage on Abacus Life (NASDAQ:ABL)

Stock analysts at Piper Sandler assumed coverage on shares of Abacus Life (NASDAQ:ABL) in a note issued to investors on Wednesday, Marketbeat Ratings reports. The firm set an “overweight” rating and a $12.00 price target on the stock. Piper Sandler’s price target points to a potential upside of 31.87% from the company’s previous close.

A number of other equities analysts have also commented on ABL. B. Riley Financial reduced their target price on shares of Abacus Life from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday. B. Riley restated a “buy” rating and set a $15.00 price objective (down from $16.00) on shares of Abacus Life in a report on Monday.

Abacus Life Stock Performance

ABL stock opened at $9.10 on Wednesday. Abacus Life has a twelve month low of $5.47 and a twelve month high of $13.25. The firm has a market cap of $581.67 million, a price-to-earnings ratio of 455.23 and a beta of 0.17. The business’s fifty day simple moving average is $11.02 and its two-hundred day simple moving average is $11.18. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 1.03.

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

Hedge Funds Weigh In On Abacus Life

Several institutional investors have recently bought and sold shares of ABL. Barclays PLC acquired a new position in shares of Abacus Life during the third quarter valued at about $47,000. Inscription Capital LLC purchased a new stake in Abacus Life during the 1st quarter worth approximately $137,000. Finally, Quarry LP acquired a new position in Abacus Life during the 4th quarter valued at approximately $463,000.

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.