56,150 Shares in Abacus Life, Inc. (NASDAQ:ABL) Acquired by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp purchased a new stake in Abacus Life, Inc. (NASDAQ:ABL - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 56,150 shares of the company's stock, valued at approximately $440,000. OMERS ADMINISTRATION Corp owned approximately 0.06% of Abacus Life as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Millennium Management LLC increased its holdings in Abacus Life by 1,629.1% in the 4th quarter. Millennium Management LLC now owns 192,019 shares of the company's stock valued at $1,504,000 after buying an additional 180,914 shares during the period. Moore Capital Management LP acquired a new stake in shares of Abacus Life during the 4th quarter worth approximately $1,359,000. Lazard Asset Management LLC increased its stake in Abacus Life by 34.9% in the fourth quarter. Lazard Asset Management LLC now owns 492,090 shares of the company's stock valued at $3,853,000 after acquiring an additional 127,327 shares during the last quarter. FJ Capital Management LLC bought a new position in Abacus Life in the fourth quarter valued at approximately $264,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Abacus Life during the fourth quarter valued at approximately $225,000.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ABL shares. Piper Sandler raised their target price on Abacus Life from $11.50 to $12.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Maxim Group assumed coverage on Abacus Life in a research report on Tuesday, April 29th. They set 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's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $14.08.

Abacus Life Price Performance

Shares of NASDAQ ABL traded down $0.23 during midday trading on Thursday, reaching $8.19. 287,313 shares of the company were exchanged, compared to its average volume of 203,436. The stock's 50-day moving average price is $7.94 and its 200-day moving average price is $7.86. The stock has a market cap of $793.23 million, a P/E ratio of -45.50 and a beta of 0.14. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.65. Abacus Life, Inc. has a one year low of $6.34 and a one year high of $12.40.

Abacus Life (NASDAQ:ABL - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.18 earnings per share for the quarter, beating 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 company had revenue of $44.14 million for the quarter, compared to the consensus estimate of $39.51 million. On average, sell-side analysts anticipate that Abacus Life, Inc. will post 0.62 earnings per share 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.