AWM Investment Company Inc. Buys 57,524 Shares of Abacus Life, Inc. $ABL

Key Points

• AWM Investment Company Inc. increased its stake in Abacus Life, Inc. by 9.2%, acquiring an additional 57,524 shares, bringing its total to 680,536 shares valued at approximately $5.1 million.
• Abacus Life's stock is currently valued at $7.01, with a 1-year range between $4.60 and $10.95, showing a recent decline of 2.0% in stock price.
• Several analysts have recently upgraded Abacus Life's rating, with a consensus rating of “Buy” and a target price of $13.13 based on recent research evaluations.

AWM Investment Company Inc. lifted its stake in Abacus Life, Inc. (NASDAQ:ABL - Free Report) by 9.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 680,536 shares of the company's stock after acquiring an additional 57,524 shares during the quarter. AWM Investment Company Inc. owned approximately 0.70% of Abacus Life worth $5,097,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ABL. Bastion Asset Management Inc. acquired a new stake in shares of Abacus Life in the first quarter valued at about $4,353,000. Royce & Associates LP increased its position in Abacus Life by 39.6% during the first quarter. Royce & Associates LP now owns 1,824,253 shares of the company's stock worth $13,664,000 after buying an additional 517,822 shares during the last quarter. Seven Grand Managers LLC increased its position in Abacus Life by 306.0% during the fourth quarter. Seven Grand Managers LLC now owns 507,485 shares of the company's stock worth $3,974,000 after buying an additional 382,485 shares during the last quarter. Blackstone Inc. acquired a new position in Abacus Life during the fourth quarter worth approximately $1,722,000. Finally, Millennium Management LLC increased its position in Abacus Life by 1,629.1% during the fourth quarter. Millennium Management LLC now owns 192,019 shares of the company's stock worth $1,504,000 after buying an additional 180,914 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ABL shares. Piper Sandler lowered their price target on Abacus Life from $12.00 to $10.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 2nd. Wall Street Zen raised Abacus Life from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $13.13.

Abacus Life Stock Performance

Shares of NASDAQ:ABL traded up $0.07 during trading on Friday, reaching $6.59. 450,648 shares of the stock were exchanged, compared to its average volume of 631,397. Abacus Life, Inc. has a 12 month low of $4.60 and a 12 month high of $10.95. The firm has a market cap of $637.65 million, a PE ratio of -109.83 and a beta of 0.03. The stock has a 50-day moving average price of $5.82 and a 200-day moving average price of $6.88. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.57.

Abacus Life (NASDAQ:ABL - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.16 by $0.06. Abacus Life had a positive return on equity of 17.65% and a negative net margin of 0.72%.The company had revenue of $56.23 million during the quarter, compared to analysts' expectations of $43.38 million. Research analysts expect that Abacus Life, Inc. will post 0.62 EPS for the current fiscal 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.