FJ Capital Management LLC Acquires New Holdings in Abacus Life, Inc. (NASDAQ:ABL)

FJ Capital Management LLC bought a new position in Abacus Life, Inc. (NASDAQ:ABL - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 33,674 shares of the company's stock, valued at approximately $264,000.

Several other large investors have also recently modified their holdings of ABL. Alyeska Investment Group L.P. increased its position in Abacus Life by 116.5% during 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 during the last quarter. Royce & Associates LP boosted its stake in shares of Abacus Life by 339.9% during the 4th quarter. Royce & Associates LP now owns 1,306,431 shares of the company's stock worth $10,229,000 after purchasing an additional 1,009,431 shares during the period. Kennedy Capital Management LLC purchased a new position in shares of Abacus Life during the 4th quarter worth about $7,461,000. Monashee Investment Management LLC bought a new position in Abacus Life during the 4th quarter valued at about $6,342,000. Finally, Mendon Capital Advisors Corp raised its position in Abacus Life by 137.1% in the 4th quarter. Mendon Capital Advisors Corp now owns 1,303,826 shares of the company's stock worth $10,209,000 after purchasing an additional 753,826 shares during the period.

Abacus Life Stock Up 1.5%

NASDAQ ABL traded up $0.13 on Tuesday, reaching $8.83. 640,848 shares of the stock traded hands, compared to its average volume of 194,671. Abacus Life, Inc. has a 12 month low of $6.34 and a 12 month high of $12.40. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.29 and a current ratio of 1.29. The company has a fifty day moving average price of $7.78 and a 200-day moving average price of $7.85. The company has a market cap of $855.21 million, a price-to-earnings ratio of -49.05 and a beta of 0.14.

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

Wall Street Analysts Forecast Growth

ABL has been the topic of several recent analyst reports. Maxim Group assumed coverage on Abacus Life in a report on Tuesday, April 29th. They issued a "buy" rating and a $14.00 price target on the stock. Piper Sandler increased their target price on Abacus Life from $11.50 to $12.00 and gave the stock an "overweight" rating in a research note on Friday. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Abacus Life presently has a consensus rating of "Buy" and a consensus price target of $14.08.

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.