Alyeska Investment Group L.P. Increases Stake in Abacus Life, Inc. (NASDAQ:ABL)

Alyeska Investment Group L.P. grew its position in shares of Abacus Life, Inc. (NASDAQ:ABL - Free Report) by 116.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,540,790 shares of the company's stock after purchasing an additional 1,367,210 shares during the quarter. Alyeska Investment Group L.P. owned approximately 2.63% of Abacus Life worth $19,894,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ABL. Geode Capital Management LLC lifted its stake in shares of Abacus Life by 439.6% in the 3rd quarter. Geode Capital Management LLC now owns 171,917 shares of the company's stock valued at $1,741,000 after acquiring an additional 140,054 shares during the last quarter. Franklin Resources Inc. lifted its position in Abacus Life by 3.6% in the third quarter. Franklin Resources Inc. now owns 437,733 shares of the company's stock valued at $4,382,000 after purchasing an additional 15,308 shares during the last quarter. Principal Financial Group Inc. lifted its position in Abacus Life by 7.9% in the third quarter. Principal Financial Group Inc. now owns 1,011,143 shares of the company's stock valued at $10,233,000 after purchasing an additional 74,172 shares during the last quarter. Geneos Wealth Management Inc. purchased a new stake in shares of Abacus Life during the fourth quarter valued at approximately $110,000. Finally, Evernest Financial Advisors LLC grew its holdings in shares of Abacus Life by 63.8% in the fourth quarter. Evernest Financial Advisors LLC now owns 110,250 shares of the company's stock worth $863,000 after purchasing an additional 42,950 shares during the last quarter.

Abacus Life Stock Up 5.4 %

Shares of ABL traded up $0.45 on Friday, reaching $8.83. The stock had a trading volume of 765,578 shares, compared to its average volume of 189,908. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.29 and a current ratio of 1.29. Abacus Life, Inc. has a 12-month low of $6.34 and a 12-month high of $12.40. The firm has a market capitalization of $855.21 million, a price-to-earnings ratio of -49.05 and a beta of 0.14. The company has a 50-day simple moving average of $7.71 and a 200-day simple moving average of $7.86.

Abacus Life (NASDAQ:ABL - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.16 by $0.02. The business had revenue of $44.14 million during the quarter, compared to analyst estimates of $39.51 million. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. Sell-side analysts predict that Abacus Life, Inc. will post 0.62 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on ABL shares. Piper Sandler upped their price objective on shares of Abacus Life from $11.50 to $12.00 and gave the company an "overweight" rating in a research note on Friday. Maxim Group initiated coverage on Abacus Life in a research note on Tuesday, April 29th. They set a "buy" rating and a $14.00 target price on the stock. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average 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.