Abacus Life’s (ABL) Sell (E+) Rating Reiterated at Weiss Ratings

Weiss Ratings reissued their sell (e+) rating on shares of Abacus Life (NASDAQ:ABL) in a report published on Wednesday morning,Weiss Ratings reports.

A number of other equities research analysts have also issued reports on ABL. Wall Street Zen upgraded Abacus Life from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Piper Sandler lowered their price objective on Abacus Life from $12.00 to $10.00 and set an “overweight” rating for the company in a research report on Wednesday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $12.88.

Abacus Life Price Performance

ABL stock opened at $5.74 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.76 and a quick ratio of 0.76. The business has a 50 day simple moving average of $6.28 and a 200-day simple moving average of $6.64. The firm has a market capitalization of $555.40 million, a PE ratio of -95.67 and a beta of -0.01. Abacus Life has a 1 year low of $4.60 and a 1 year high of $10.30.

Abacus Life (NASDAQ:ABL) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. The business had revenue of $56.23 million during the quarter, compared to analyst estimates of $43.38 million. Abacus Life had a positive return on equity of 17.65% and a negative net margin of 0.72%. Equities research analysts anticipate that Abacus Life will post 0.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Osaic Holdings Inc. boosted its position in shares of Abacus Life by 86.1% during the second quarter. Osaic Holdings Inc. now owns 12,675 shares of the company’s stock worth $65,000 after buying an additional 5,865 shares during the period. Squarepoint Ops LLC boosted its position in shares of Abacus Life by 1,264.1% during the second quarter. Squarepoint Ops LLC now owns 217,430 shares of the company’s stock worth $1,118,000 after buying an additional 201,490 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of Abacus Life by 78.9% during the second quarter. Geneos Wealth Management Inc. now owns 25,415 shares of the company’s stock worth $131,000 after buying an additional 11,206 shares during the period. Sugar Maple Asset Management LLC purchased a new position in shares of Abacus Life during the second quarter worth $139,000. Finally, Oxford Asset Management LLP purchased a new position in shares of Abacus Life during the second quarter worth $52,000.

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.