QTR Family Wealth LLC Has $1.67 Million Position in Abacus Life, Inc. $ABL

Key Points

• QTR Family Wealth LLC increased its stake in Abacus Life, Inc. by 427.0% in Q2, owning 324,124 shares valued at approximately $1.67 million.
• Shares of Abacus Life are currently trading at $5.73, with a recent 52-week low of $4.60 and a high of $10.30.
• Analysts have a consensus rating of "Buy" for Abacus Life shares, with price targets set, including a rise from $12.00 to $10.00 by Piper Sandler.

QTR Family Wealth LLC grew its stake in shares of Abacus Life, Inc. (NASDAQ:ABL - Free Report) by 427.0% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 324,124 shares of the company's stock after buying an additional 262,620 shares during the period. Abacus Life makes up 1.0% of QTR Family Wealth LLC's investment portfolio, making the stock its 25th biggest holding. QTR Family Wealth LLC owned about 0.33% of Abacus Life worth $1,666,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Millennium Management LLC raised its position in shares of Abacus Life by 1,629.1% during the fourth 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 last quarter. Two Sigma Investments LP acquired a new position in shares of Abacus Life during the fourth quarter valued at about $617,000. Jane Street Group LLC acquired a new position in shares of Abacus Life during the fourth quarter valued at about $282,000. Foundry Partners LLC raised its position in shares of Abacus Life by 10.5% during 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, Charles Schwab Investment Management Inc. raised its position in shares of Abacus Life by 152.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 154,700 shares of the company's stock valued at $1,159,000 after buying an additional 93,348 shares during the last quarter.

Abacus Life Trading Down 3.2%

Shares of ABL opened at $5.73 on Wednesday. The stock has a fifty day moving average price of $6.19 and a two-hundred day moving average price of $6.73. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.76 and a current ratio of 0.76. Abacus Life, Inc. has a 52-week low of $4.60 and a 52-week high of $10.30. The company has a market cap of $554.43 million, a price-to-earnings ratio of -95.50 and a beta of 0.03.

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

Analysts Set New Price Targets

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

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.

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