Jane Street Group LLC Purchases Shares of 35,960 Abacus Life, Inc. (NASDAQ:ABL)

Jane Street Group LLC bought a new position in shares of Abacus Life, Inc. (NASDAQ:ABL - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 35,960 shares of the company's stock, valued at approximately $282,000.

Several other hedge funds and other institutional investors also recently modified their holdings of ABL. Royce & Associates LP boosted its position in shares of Abacus Life by 339.9% during the 4th quarter. Royce & Associates LP now owns 1,306,431 shares of the company's stock valued at $10,229,000 after acquiring an additional 1,009,431 shares during the last quarter. Renaissance Technologies LLC increased its stake in Abacus Life by 356.0% in the 4th quarter. Renaissance Technologies LLC now owns 210,500 shares of the company's stock worth $1,648,000 after purchasing an additional 164,334 shares during the period. Foundry Partners LLC purchased a new position in shares of Abacus Life in the fourth quarter worth $5,364,000. Mendon Capital Advisors Corp boosted its position in Abacus Life by 137.1% during the 4th 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 period. Finally, Allspring Global Investments Holdings LLC raised its position in Abacus Life by 23.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,399,204 shares of the company's stock valued at $10,830,000 after purchasing an additional 263,036 shares during the last quarter.

Abacus Life Stock Performance

Shares of NASDAQ ABL traded down $0.28 during trading on Thursday, reaching $5.72. 1,996,765 shares of the company traded hands, compared to its average volume of 262,185. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.65. The firm has a 50 day simple moving average of $7.98 and a 200-day simple moving average of $7.80. Abacus Life, Inc. has a 52-week low of $5.10 and a 52-week high of $12.39. The stock has a market capitalization of $554.00 million, a PE ratio of -31.78 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 business had revenue of $44.14 million for the quarter, compared to analysts' expectations of $39.51 million. Equities research analysts anticipate that Abacus Life, Inc. will post 0.62 earnings per share for the current year.

Wall Street Analyst Weigh In

ABL has been the topic of a number of research reports. Piper Sandler lifted their target price on shares of Abacus Life from $11.50 to $12.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Maxim Group assumed coverage on Abacus Life in a report on Tuesday, April 29th. They issued a "buy" rating and a $14.00 target price on the stock. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Abacus Life currently has an average rating of "Buy" and an average price target of $14.08.

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.