Cubist Systematic Strategies LLC Buys Shares of 28,776 Abacus Life, Inc. (NASDAQ:ABL)

Cubist Systematic Strategies LLC bought a new position in shares of Abacus Life, Inc. (NASDAQ:ABL - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 28,776 shares of the company's stock, valued at approximately $225,000.

Other institutional investors have also modified their holdings of the company. Alyeska Investment Group L.P. boosted its position in shares of Abacus Life by 116.5% during the 4th quarter. Alyeska Investment Group L.P. now owns 2,540,790 shares of the company's stock valued at $19,894,000 after acquiring an additional 1,367,210 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Abacus Life by 23.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,399,204 shares of the company's stock worth $10,830,000 after acquiring an additional 263,036 shares in the last quarter. Royce & Associates LP increased its position in shares of Abacus Life by 339.9% in the fourth quarter. Royce & Associates LP now owns 1,306,431 shares of the company's stock valued at $10,229,000 after buying an additional 1,009,431 shares in the last quarter. Mendon Capital Advisors Corp boosted its stake in Abacus Life by 137.1% in the 4th 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 last quarter. Finally, Curi RMB Capital LLC lifted its stake in shares of Abacus Life by 110.7% in the 4th 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 in the last quarter.

Abacus Life Price Performance

Abacus Life stock traded down $0.02 during midday trading on Friday, hitting $8.17. 554,139 shares of the company's stock were exchanged, compared to its average volume of 206,268. Abacus Life, Inc. has a 52-week low of $6.34 and a 52-week high of $12.40. The stock has a 50-day moving average price of $7.96 and a two-hundred day moving average price of $7.85. 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 company has a market cap of $791.29 million, a P/E ratio of -45.39 and a beta of 0.14.

Abacus Life (NASDAQ:ABL - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. The firm had revenue of $44.14 million during the quarter, compared to analyst estimates of $39.51 million. On average, equities research analysts forecast that Abacus Life, Inc. will post 0.62 earnings per share for the current year.

Analysts Set New Price Targets

ABL has been the subject of several recent analyst reports. Piper Sandler increased their price target on Abacus Life from $11.50 to $12.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Maxim Group started coverage on Abacus Life in a research note on Tuesday, April 29th. They issued a "buy" rating and a $14.00 price target on the stock. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $14.08.

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.