10 Oversold Financial Stocks To Buy Right Now

6. Abacus Life, Inc. (NASDAQ:ABL)

6-Month Performance: -25.10%

Number of Hedge Fund Holders: 28

Analysts Upside Potential: 81.70%

Abacus Life, Inc. (NASDAQ:ABL) is a global alternative asset manager and market maker that specializes in uncorrelated financial products. It uses longevity data and actuarial technology to purchase life insurance policies from consumers seeking liquidity. The company has expanded into two new growth areas including, ABL Wealth which provides wealth management platforms based on longevity for financial advisors to create customized plans and provide access to uncorrelated investments, and ABL Tech which delivers real-time data tracking and analysis for pension funds, governments, insurance companies, and retirement associations.

On February 25, TD Cowen analyst Andrew Kligerman maintained a Buy rating on the stock with a price target of $14. During the fiscal third quarter of 2024, Abacus Life, Inc. (NASDAQ:ABL) delivered strong financial results and strategic advancements. It increased its revenue by 33% reaching $28.1 million. The growth was driven by higher active management revenue, increased capital deployment, and more policies sold directly to third parties. Moreover, it also grew its net income by 65% during the same time. The ABL Tech program has made substantial progress, signing its first public pension client in June and one of the largest union pension funds in the United States in August. It is one of the oversold financial stocks to buy right now.