Pacific Ridge Capital Partners LLC Buys Shares of 47,841 Abacus Life, Inc. (NASDAQ:ABL)

Key Points

• Pacific Ridge Capital Partners LLC has acquired 47,841 shares of Abacus Life, Inc., valued at approximately $358,000, during the first quarter of this year.
• Analysts have set a consensus rating of "Buy" for Abacus Life, with an average price target of $13.75, indicating positive growth expectations.
• Abacus Life's stock has experienced a decline of 2.2% recently, with its current trading price at $5.29.

Pacific Ridge Capital Partners LLC acquired a new position in Abacus Life, Inc. (NASDAQ:ABL - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 47,841 shares of the company's stock, valued at approximately $358,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Millennium Management LLC increased its position in shares of Abacus Life by 1,629.1% during the 4th quarter. Millennium Management LLC now owns 192,019 shares of the company's stock worth $1,504,000 after purchasing an additional 180,914 shares in the last quarter. Two Sigma Investments LP bought a new position in Abacus Life in the 4th quarter valued at $617,000. Jane Street Group LLC acquired a new position in Abacus Life in the fourth quarter worth $282,000. Foundry Partners LLC raised its holdings in shares of Abacus Life by 10.5% in the first quarter. Foundry Partners LLC now owns 756,957 shares of the company's stock valued at $5,670,000 after buying an additional 71,957 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in Abacus Life by 356.0% during the 4th quarter. Renaissance Technologies LLC now owns 210,500 shares of the company's stock worth $1,648,000 after buying an additional 164,334 shares in the last quarter.

Abacus Life Trading Up 3.4%

Shares of Abacus Life stock traded up $0.18 during trading on Monday, hitting $5.47. 418,613 shares of the company were exchanged, compared to its average volume of 646,327. The firm has a market capitalization of $529.77 million, a P/E ratio of -23.78 and a beta of 0.01. Abacus Life, Inc. has a 1-year low of $4.60 and a 1-year high of $11.86. The firm's fifty day moving average price is $5.72 and its 200 day moving average price is $7.08. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.47 and a quick ratio of 0.47.

Abacus Life (NASDAQ:ABL - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.18 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.02. Abacus Life had a negative net margin of 13.35% and a positive return on equity of 16.76%. The firm had revenue of $44.14 million during the quarter, compared to analysts' expectations of $39.51 million. As a group, sell-side analysts expect that Abacus Life, Inc. will post 0.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ABL shares. Piper Sandler reduced their target price on shares of Abacus Life from $12.00 to $10.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 2nd. Maxim Group began coverage on Abacus Life in a report on Tuesday, April 29th. They set a "buy" rating and a $14.00 price objective on the stock. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and an average 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.