Two Sigma Investments LP purchased a new position in shares of Abacus Life, Inc. (NASDAQ:ABL - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 78,811 shares of the company's stock, valued at approximately $617,000. Two Sigma Investments LP owned approximately 0.08% of Abacus Life as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also made changes to their positions in the business. JPMorgan Chase & Co. increased its holdings in Abacus Life by 640.9% during the 4th quarter. JPMorgan Chase & Co. now owns 16,670 shares of the company's stock worth $131,000 after purchasing an additional 14,420 shares during the period. LPL Financial LLC grew its position in shares of Abacus Life by 31.0% during the fourth quarter. LPL Financial LLC now owns 23,288 shares of the company's stock worth $182,000 after buying an additional 5,507 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Abacus Life during the fourth quarter worth about $193,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Abacus Life during the fourth quarter worth approximately $225,000. Finally, FJ Capital Management LLC acquired a new stake in Abacus Life in the fourth quarter valued at approximately $264,000.
Abacus Life Stock Performance
NASDAQ:ABL traded down $0.29 during midday trading on Thursday, reaching $5.84. The stock had a trading volume of 2,002,621 shares, compared to its average volume of 303,398. 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 stock has a market cap of $565.62 million, a P/E ratio of -32.44 and a beta of 0.11. The firm has a fifty day simple moving average of $7.84 and a two-hundred day simple moving average of $7.72. Abacus Life, Inc. has a 12-month low of $5.10 and a 12-month high of $11.86.
Abacus Life (NASDAQ:ABL - Get Free Report) last issued its earnings results 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. The business had revenue of $44.14 million for the quarter, compared to the consensus estimate of $39.51 million. Abacus Life had a negative net margin of 11.65% and a positive return on equity of 12.88%. On average, equities analysts expect that Abacus Life, Inc. will post 0.62 EPS for the current year.
Analyst Upgrades and Downgrades
A number of brokerages have commented on ABL. Piper Sandler increased their price objective on shares of Abacus Life from $11.50 to $12.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Maxim Group assumed coverage on shares of Abacus Life in a research note on Tuesday, April 29th. They set a "buy" rating and a $14.00 target price for the company. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $14.08.
Check Out Our Latest Research Report on Abacus Life
Abacus Life Profile
(
Free Report)
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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