Evernest Financial Advisors LLC Has $82,000 Stock Holdings in Abacus Life, Inc. (NASDAQ:ABL)

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%.

Evernest Financial Advisors LLC lowered its stake in Abacus Life, Inc. (NASDAQ:ABL - Free Report) by 90.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,000 shares of the company's stock after selling 99,250 shares during the quarter. Evernest Financial Advisors LLC's holdings in Abacus Life were worth $82,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Alyeska Investment Group L.P. boosted its position 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 worth $19,894,000 after buying an additional 1,367,210 shares during the period. Kennedy Capital Management LLC acquired a new stake in shares of Abacus Life in the fourth quarter worth $7,461,000. Monashee Investment Management LLC acquired a new stake in shares of Abacus Life in the fourth quarter worth $6,342,000. Mendon Capital Advisors Corp boosted its position 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 worth $10,209,000 after buying an additional 753,826 shares during the period. Finally, Curi RMB Capital LLC boosted its position 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 worth $9,075,000 after buying an additional 609,000 shares during the period.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Wall Street Zen raised Abacus Life from a "hold" rating to a "buy" rating in a research report on Saturday. Maxim Group assumed coverage on Abacus Life in a research report on Tuesday, April 29th. They issued a "buy" rating and a $14.00 price target for the company. Finally, Piper Sandler reduced their price target on Abacus Life from $12.00 to $10.00 and set an "overweight" rating for the company in a research report on Wednesday, July 2nd. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Abacus Life currently has a consensus rating of "Buy" and a consensus price target of $13.70.

Abacus Life Stock Up 8.4%

Shares of ABL traded up $0.49 during midday trading on Tuesday, hitting $6.27. The stock had a trading volume of 256,897 shares, compared to its average volume of 600,613. The company has a 50 day simple moving average of $5.50 and a two-hundred day simple moving average of $7.02. Abacus Life, Inc. has a twelve month low of $4.60 and a twelve month high of $11.39. The firm has a market cap of $606.96 million, a price-to-earnings ratio of -103.50 and a beta of 0.01. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.47 and a quick ratio of 0.47.

Abacus Life (NASDAQ:ABL - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.16 by $0.06. Abacus Life had a positive return on equity of 18.19% and a negative net margin of 0.72%. The firm had revenue of $56.23 million during the quarter, compared to analysts' expectations of $43.38 million. On average, analysts anticipate that Abacus Life, Inc. will post 0.62 EPS for the current year.

Abacus Life Company 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.