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Abacus Life, Inc. (NASDAQ:ABL) Stock Holdings Lowered by Evernest Financial Advisors LLC

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Key Points

  • Evernest Financial Advisors LLC significantly reduced its holdings in Abacus Life, Inc. by 90.0%, selling 99,250 shares and retaining only 11,000 shares worth $82,000.
  • Multiple institutional investors have been active in Abacus Life; for instance, JPMorgan Chase & Co. increased its stake by 640.9% during the fourth quarter.
  • Abacus Life posted earnings of $0.22 per share for the last quarter, surpassing expectations and reflecting a positive return on equity of 16.76%.
  • Looking to Export and Analyze Abacus Life Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Evernest Financial Advisors LLC reduced its holdings in shares of Abacus Life, Inc. (NASDAQ:ABL - Free Report) by 90.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 11,000 shares of the company's stock after selling 99,250 shares during the period. Evernest Financial Advisors LLC's holdings in Abacus Life were worth $82,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in ABL. Alyeska Investment Group L.P. lifted its stake in shares of Abacus Life by 116.5% in the fourth quarter. Alyeska Investment Group L.P. now owns 2,540,790 shares of the company's stock valued at $19,894,000 after purchasing an additional 1,367,210 shares during the period. Royce & Associates LP lifted its stake in shares of Abacus Life by 39.6% in the first quarter. Royce & Associates LP now owns 1,824,253 shares of the company's stock valued at $13,664,000 after purchasing an additional 517,822 shares during the period. Mendon Capital Advisors Corp lifted its stake in shares of Abacus Life by 137.1% in the fourth quarter. Mendon Capital Advisors Corp now owns 1,303,826 shares of the company's stock valued at $10,209,000 after purchasing an additional 753,826 shares during the period. Curi RMB Capital LLC lifted its stake in shares of Abacus Life by 110.7% in the fourth quarter. Curi RMB Capital LLC now owns 1,159,000 shares of the company's stock valued at $9,075,000 after purchasing an additional 609,000 shares during the period. Finally, Kennedy Capital Management LLC acquired a new stake in shares of Abacus Life in the fourth quarter valued at about $7,461,000.

Wall Street Analyst Weigh In

Several brokerages recently commented on ABL. Piper Sandler reduced their price objective on shares of Abacus Life from $12.00 to $10.00 and set an "overweight" rating for the company in a research note on Wednesday, July 2nd. Wall Street Zen upgraded shares of Abacus Life from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Maxim Group initiated coverage on shares of Abacus Life in a research report on Tuesday, April 29th. They set a "buy" rating and a $14.00 target price for the company. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Abacus Life presently has a consensus rating of "Buy" and a consensus price target of $13.70.

Check Out Our Latest Stock Report on ABL

Abacus Life Trading Up 8.0%

Shares of NASDAQ:ABL traded up $0.44 during trading on Friday, reaching $5.94. The stock had a trading volume of 1,558,806 shares, compared to its average volume of 561,082. The business has a fifty day moving average price of $5.54 and a 200-day moving average price of $7.03. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.55. The stock has a market cap of $575.29 million, a P/E ratio of -99.00 and a beta of 0.01. Abacus Life, Inc. has a fifty-two week low of $4.60 and a fifty-two week high of $11.86.

Abacus Life (NASDAQ:ABL - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.22 earnings per share (EPS) for the quarter, beating 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 18.19%. The firm had revenue of $56.23 million during the quarter, compared to the consensus estimate of $43.38 million. As a group, analysts anticipate that Abacus Life, Inc. will post 0.62 earnings per share for the current fiscal year.

Abacus Life Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Abacus Life (NASDAQ:ABL)

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