Alta Fundamental Advisers LLC Grows Stake in Abacus Life, Inc. (NASDAQ:ABL)

Alta Fundamental Advisers LLC boosted its stake in shares of Abacus Life, Inc. (NASDAQ:ABL - Free Report) by 66.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 752,087 shares of the company's stock after buying an additional 300,000 shares during the quarter. Abacus Life accounts for about 1.8% of Alta Fundamental Advisers LLC's holdings, making the stock its 16th biggest holding. Alta Fundamental Advisers LLC owned approximately 0.78% of Abacus Life worth $5,889,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Geneos Wealth Management Inc. purchased a new stake in shares of Abacus Life in the 4th quarter valued at $110,000. JPMorgan Chase & Co. increased its stake in Abacus Life by 640.9% during the fourth quarter. JPMorgan Chase & Co. now owns 16,670 shares of the company's stock worth $131,000 after purchasing an additional 14,420 shares during the period. LPL Financial LLC lifted its position in shares of Abacus Life by 31.0% during the fourth quarter. LPL Financial LLC now owns 23,288 shares of the company's stock worth $182,000 after purchasing an additional 5,507 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Abacus Life in the fourth quarter valued at approximately $193,000. Finally, Jane Street Group LLC acquired a new stake in Abacus Life during the 4th quarter worth approximately $282,000.

Abacus Life Price Performance

ABL traded up $0.13 on Thursday, hitting $8.38. 251,477 shares of the company were exchanged, compared to its average volume of 186,358. The business's fifty day moving average is $7.69 and its 200 day moving average is $7.87. Abacus Life, Inc. has a fifty-two week low of $6.34 and a fifty-two week high of $12.40. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a market capitalization of $811.63 million, a P/E ratio of -46.55 and a beta of 0.14.

Abacus Life (NASDAQ:ABL - Get Free Report) last posted its earnings results on Thursday, March 27th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.03. The company had revenue of $33.21 million for the quarter, compared to analyst estimates of $28.76 million. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. As a group, sell-side analysts anticipate that Abacus Life, Inc. will post 0.62 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Maxim Group initiated coverage on Abacus Life in a research report on Tuesday, April 29th. They set a "buy" rating and a $14.00 price objective for the company. Piper Sandler decreased their price objective on shares of Abacus Life from $13.00 to $11.50 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Six research 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, Abacus Life presently has a consensus rating of "Buy" and an average target price of $14.00.

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.