Abacus Life, Inc. $ABL Holdings Raised by Curi RMB Capital LLC

Key Points

• Curi RMB Capital LLC increased its stake in Abacus Life, Inc. by 10.0% in the first quarter, owning approximately 1.32% of the company with a value of $9.55 million.
• Research firms have shown optimism, with one upgrading Abacus Life's rating to "buy" and analysts estimating a consensus price target of $13.13 for the stock.
• Abacus Life reported $0.22 EPS for the last quarter, exceeding expectations and generating revenue of $56.23 million, significantly higher than the anticipated $43.38 million.

Curi RMB Capital LLC boosted its holdings in shares of Abacus Life, Inc. (NASDAQ:ABL - Free Report) by 10.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,275,000 shares of the company's stock after acquiring an additional 116,000 shares during the period. Curi RMB Capital LLC owned about 1.32% of Abacus Life worth $9,550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. State of Wyoming acquired a new stake in Abacus Life in the 1st quarter valued at $105,000. Squarepoint Ops LLC purchased a new stake in shares of Abacus Life in the fourth quarter valued at about $113,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Abacus Life in the fourth quarter valued at about $225,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Abacus Life in the 1st quarter valued at about $249,000. Finally, FJ Capital Management LLC purchased a new stake in Abacus Life in the 4th quarter valued at about $264,000.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ABL shares. Piper Sandler cut their price target on shares of Abacus Life from $12.00 to $10.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 2nd. Wall Street Zen upgraded Abacus Life from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $13.13.

Abacus Life Stock Down 1.4%

Abacus Life stock traded down $0.09 during midday trading on Wednesday, hitting $6.28. 126,025 shares of the company were exchanged, compared to its average volume of 595,987. The company's fifty day moving average price is $5.87 and its 200-day moving average price is $6.86. The company has a market cap of $607.65 million, a PE ratio of -104.95 and a beta of 0.03. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.76 and a quick ratio of 0.76. Abacus Life, Inc. has a fifty-two week low of $4.60 and a fifty-two week high of $10.95.

Abacus Life (NASDAQ:ABL - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.22 earnings per share for the quarter, beating 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 business had revenue of $56.23 million during the quarter, compared to the consensus estimate of $43.38 million. On average, research analysts predict that Abacus Life, Inc. will post 0.62 EPS for the current fiscal year.

About Abacus Life

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.