Abacus Life (NASDAQ:ABL) Earns “Sell (E+)” Rating from Weiss Ratings

Abacus Life (NASDAQ:ABL)‘s stock had its “sell (e+)” rating reissued by stock analysts at Weiss Ratings in a research report issued to clients and investors on Friday,Weiss Ratings reports.

Other equities analysts have also recently issued research reports about the stock. Wall Street Zen raised shares of Abacus Life from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Piper Sandler cut their price objective on shares of Abacus Life from $10.00 to $9.00 and set an “overweight” rating for the company in a research note on Thursday, October 9th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Abacus Life has an average rating of “Moderate Buy” and an average target price of $12.67.

Abacus Life Price Performance

ABL stock opened at $5.85 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.76 and a quick ratio of 0.76. Abacus Life has a one year low of $4.60 and a one year high of $9.61. The stock has a market cap of $566.05 million, a PE ratio of -97.50 and a beta of -0.01. The firm has a 50 day simple moving average of $6.25 and a two-hundred day simple moving average of $6.53.

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

Institutional Investors Weigh In On Abacus Life

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS raised its holdings in Abacus Life by 111.3% during the 3rd quarter. KLP Kapitalforvaltning AS now owns 16,900 shares of the company’s stock valued at $97,000 after buying an additional 8,900 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in Abacus Life by 35.4% during the 3rd quarter. Geneos Wealth Management Inc. now owns 34,415 shares of the company’s stock valued at $197,000 after buying an additional 9,000 shares during the last quarter. Dupont Capital Management Corp bought a new stake in Abacus Life during the 3rd quarter valued at $132,000. Allspring Global Investments Holdings LLC raised its holdings in Abacus Life by 0.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,486,481 shares of the company’s stock valued at $8,473,000 after buying an additional 11,428 shares during the last quarter. Finally, Darwin Wealth Management LLC raised its holdings in Abacus Life by 118.6% during the 3rd quarter. Darwin Wealth Management LLC now owns 11,474 shares of the company’s stock valued at $66,000 after buying an additional 6,225 shares during the last quarter.

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.