Two Sigma Investments LP Invests $617,000 in Abacus Life, Inc. (NASDAQ:ABL)

Two Sigma Investments LP purchased a new position in Abacus Life, Inc. (NASDAQ:ABL - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 78,811 shares of the company's stock, valued at approximately $617,000. Two Sigma Investments LP owned 0.08% of Abacus Life at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Richard W. Paul & Associates LLC raised its position in shares of Abacus Life by 7.5% in the fourth quarter. Richard W. Paul & Associates LLC now owns 41,836 shares of the company's stock worth $328,000 after buying an additional 2,934 shares in the last quarter. Bank of America Corp DE raised its position in shares of Abacus Life by 2.6% in the fourth quarter. Bank of America Corp DE now owns 161,458 shares of the company's stock worth $1,264,000 after buying an additional 4,162 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Abacus Life by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 177,227 shares of the company's stock worth $1,389,000 after buying an additional 5,310 shares in the last quarter. LPL Financial LLC raised its position in shares of Abacus Life by 31.0% in 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. Finally, Point72 Asset Management L.P. raised its position in shares of Abacus Life by 2.5% in the fourth quarter. Point72 Asset Management L.P. now owns 323,432 shares of the company's stock worth $2,532,000 after buying an additional 7,838 shares in the last quarter.

Analyst Ratings Changes

ABL has been the topic of a number of recent analyst reports. Maxim Group initiated coverage on Abacus Life in a research report on Tuesday, April 29th. They issued a "buy" rating and a $14.00 price objective on the stock. Piper Sandler raised their price target on Abacus Life from $11.50 to $12.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $14.08.

Abacus Life Price Performance

NASDAQ ABL traded down $0.05 during trading hours on Wednesday, reaching $6.13. 1,422,077 shares of the stock traded hands, compared to its average volume of 296,600. The stock has a 50 day simple moving average of $7.84 and a two-hundred day simple moving average of $7.72. Abacus Life, Inc. has a 1 year low of $5.10 and a 1 year high of $11.86. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market cap of $593.71 million, a price-to-earnings ratio of -34.05 and a beta of 0.11.

Abacus Life (NASDAQ:ABL - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.02. The firm had revenue of $44.14 million for the quarter, compared to analysts' expectations of $39.51 million. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. On average, analysts predict that Abacus Life, Inc. will post 0.62 EPS for the current fiscal year.

Abacus Life 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.