Abacus Life, Inc. (NASDAQ:ABL) Shares Acquired by Royce & Associates LP

Royce & Associates LP raised its position in shares of Abacus Life, Inc. (NASDAQ:ABL - Free Report) by 39.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,824,253 shares of the company's stock after buying an additional 517,822 shares during the quarter. Royce & Associates LP owned about 1.88% of Abacus Life worth $13,664,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Alyeska Investment Group L.P. boosted 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 acquiring an additional 1,367,210 shares in the last quarter. Kennedy Capital Management LLC acquired a new stake in shares of Abacus Life in the 4th quarter worth $7,461,000. Monashee Investment Management LLC purchased a new position in Abacus Life during the 4th quarter worth $6,342,000. Mendon Capital Advisors Corp raised its position in shares of Abacus Life by 137.1% in the 4th quarter. Mendon Capital Advisors Corp now owns 1,303,826 shares of the company's stock valued at $10,209,000 after purchasing an additional 753,826 shares during the last quarter. Finally, Foundry Partners LLC acquired a new position in Abacus Life during the 4th quarter valued at approximately $5,364,000.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ABL. Piper Sandler dropped their price target on Abacus Life from $12.00 to $10.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 2nd. Maxim Group assumed coverage on Abacus Life in a research note on Tuesday, April 29th. They issued a "buy" rating and a $14.00 target price on the stock. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $13.75.

Abacus Life Price Performance

Shares of ABL stock traded down $0.07 during mid-day trading on Friday, hitting $5.25. 285,559 shares of the stock were exchanged, compared to its average volume of 799,892. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.55. Abacus Life, Inc. has a 52-week low of $4.60 and a 52-week high of $11.86. The firm has a fifty day moving average of $6.16 and a 200 day moving average of $7.18. The company has a market cap of $508.46 million and a PE ratio of -22.83.

Abacus Life (NASDAQ:ABL - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.02. The business had revenue of $44.14 million during 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%. Research analysts anticipate that Abacus Life, Inc. will post 0.62 earnings per share for the current 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.