Lazard Asset Management LLC Grows Position in Abacus Life, Inc. (NASDAQ:ABL)

Lazard Asset Management LLC lifted its position in Abacus Life, Inc. (NASDAQ:ABL - Free Report) by 34.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 492,090 shares of the company's stock after acquiring an additional 127,327 shares during the quarter. Lazard Asset Management LLC owned approximately 0.51% of Abacus Life worth $3,853,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in ABL. FJ Capital Management LLC purchased a new stake in Abacus Life in the fourth quarter valued at approximately $264,000. Cubist Systematic Strategies LLC purchased a new position in shares of Abacus Life during the fourth quarter valued at about $225,000. Blackstone Inc. purchased a new position in shares of Abacus Life during the fourth quarter valued at about $1,722,000. Bank of America Corp DE increased its position in shares of Abacus Life by 2.6% during the fourth quarter. Bank of America Corp DE now owns 161,458 shares of the company's stock valued at $1,264,000 after buying an additional 4,162 shares during the period. Finally, Alta Fundamental Advisers LLC boosted its stake in Abacus Life by 66.4% during the fourth quarter. Alta Fundamental Advisers LLC now owns 752,087 shares of the company's stock worth $5,889,000 after acquiring an additional 300,000 shares in the last quarter.

Abacus Life Trading Down 1.7%

ABL traded down $0.15 on Tuesday, reaching $8.76. 238,723 shares of the company traded hands, compared to its average volume of 201,231. Abacus Life, Inc. has a one year low of $6.34 and a one year high of $12.40. The firm has a fifty day simple moving average of $7.90 and a two-hundred day simple moving average of $7.85. The company has a market cap of $848.43 million, a P/E ratio of -48.66 and a beta of 0.14. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.65.

Abacus Life (NASDAQ:ABL - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.18 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.02. The business had revenue of $44.14 million for the quarter, compared to the consensus estimate of $39.51 million. Abacus Life had a negative net margin of 11.65% and a positive return on equity of 12.88%. As a group, equities research analysts expect that Abacus Life, Inc. will post 0.62 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Maxim Group started coverage on shares of Abacus Life in a research report on Tuesday, April 29th. They set a "buy" rating and a $14.00 price objective on the stock. Piper Sandler upped their target price on shares of Abacus Life from $11.50 to $12.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $14.08.

Abacus Life 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.