FY2024 Earnings Estimate for Abacus Life Issued By B. Riley

Abacus Life, Inc. (NASDAQ:ABL) – Research analysts at B. Riley increased their FY2024 EPS estimates for shares of Abacus Life in a research report issued to clients and investors on Monday, November 25th. B. Riley analyst M. Howlett now forecasts that the company will post earnings per share of $0.66 for the year, up from their prior forecast of $0.58. B. Riley has a “Buy” rating and a $17.00 price target on the stock. The consensus estimate for Abacus Life’s current full-year earnings is $0.62 per share. B. Riley also issued estimates for Abacus Life’s Q4 2024 earnings at $0.18 EPS.

Abacus Life (NASDAQ:ABL) last released its earnings results on Thursday, November 7th. The company reported $0.20 earnings per share (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 firm had revenue of $28.15 million for the quarter, compared to the consensus estimate of $26.08 million. During the same period in the prior year, the firm earned $0.01 EPS.

Several other equities analysts also recently weighed in on ABL. Northland Capmk upgraded shares of Abacus Life to a “strong-buy” rating in a report on Thursday, October 24th. B. Riley Financial reiterated a “buy” rating and issued a $16.00 price objective on shares of Abacus Life in a research note on Friday, August 30th. Piper Sandler restated 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. TD Cowen initiated coverage on Abacus Life in a research report on Wednesday, August 7th. They set a “buy” rating and a $14.00 price target on the stock. Finally, Northland Securities assumed coverage on Abacus Life in a research note on Thursday, October 24th. They set an “outperform” rating and a $13.50 price objective for the company. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $14.70.

Abacus Life Stock Up 1.6 %

Shares of ABL stock opened at $7.67 on Tuesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.29 and a current ratio of 1.29. Abacus Life has a fifty-two week low of $6.56 and a fifty-two week high of $13.25. The firm has a market capitalization of $572.57 million, a PE ratio of -42.61 and a beta of 0.15. The stock’s 50-day simple moving average is $9.30 and its 200-day simple moving average is $9.81.

Institutional Trading of Abacus Life

Several institutional investors have recently modified their holdings of ABL. Richard W. Paul & Associates LLC lifted its stake in Abacus Life by 4.8% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 30,448 shares of the company’s stock valued at $263,000 after buying an additional 1,401 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Abacus Life during the second quarter worth approximately $106,000. Curi RMB Capital LLC increased its position 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 worth $5,566,000 after purchasing an additional 12,765 shares in the last quarter. Levin Capital Strategies L.P. acquired a new position in Abacus Life in the 2nd quarter valued at $130,000. Finally, Quarry LP purchased a new position in Abacus Life in the 2nd quarter valued at $318,000.

Insiders Place Their Bets

In other news, CEO Jay J. Jackson sold 2,031,250 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $8.00, for a total value of $16,250,000.00. Following the completion of the sale, the chief executive officer now directly owns 10,562,000 shares in the company, valued at $84,496,000. The trade was a 16.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Matthew Ganovsky sold 156,250 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $8.00, for a total value of $1,250,000.00. Following the transaction, the insider now directly owns 10,847,047 shares of the company’s stock, valued at approximately $86,776,376. The trade was a 1.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 79.20% of the company’s stock.

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.