Foundry Partners LLC Has $5.67 Million Holdings in Abacus Life, Inc. (NASDAQ:ABL)

Foundry Partners LLC lifted its stake in shares of Abacus Life, Inc. (NASDAQ:ABL - Free Report) by 10.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 756,957 shares of the company's stock after buying an additional 71,957 shares during the quarter. Foundry Partners LLC owned approximately 0.78% of Abacus Life worth $5,670,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ABL. Alyeska Investment Group L.P. lifted its stake in 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 buying an additional 1,367,210 shares during the last quarter. Kennedy Capital Management LLC purchased a new stake in Abacus Life in the fourth quarter valued at approximately $7,461,000. Monashee Investment Management LLC purchased a new stake in Abacus Life in the fourth quarter valued at approximately $6,342,000. Mendon Capital Advisors Corp lifted its stake in 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 buying an additional 753,826 shares during the last quarter. Finally, Curi RMB Capital LLC lifted its stake in 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 buying an additional 609,000 shares during the last quarter.

Abacus Life Price Performance

Shares of ABL traded up $0.19 during midday trading on Tuesday, reaching $5.41. The stock had a trading volume of 216,511 shares, compared to its average volume of 393,243. Abacus Life, Inc. has a 52 week low of $4.60 and a 52 week high of $11.86. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.47 and a quick ratio of 0.47. The firm's 50 day moving average price is $6.44 and its 200-day moving average price is $7.25. The company has a market capitalization of $523.96 million and a P/E ratio of -23.50.

Abacus Life (NASDAQ:ABL - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.18 EPS for the quarter, topping analysts' consensus estimates of $0.16 by $0.02. The company had revenue of $44.14 million for the quarter, compared to the consensus estimate of $39.51 million. Abacus Life had a positive return on equity of 16.76% and a negative net margin of 13.35%. On average, analysts forecast that Abacus Life, Inc. will post 0.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on ABL. Piper Sandler cut their price objective 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. Maxim Group began coverage on Abacus Life in a research report on Tuesday, April 29th. They issued a "buy" rating and a $14.00 price objective for the company. Six research 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.com, the company presently has a consensus rating of "Buy" and a consensus price target of $13.75.

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.