Abacus Life, Inc. (NASDAQ:ABL) Stock Position Increased by Gratia Capital LLC

Gratia Capital LLC boosted its stake in shares of Abacus Life, Inc. (NASDAQ:ABL - Free Report) by 82.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 553,402 shares of the company's stock after purchasing an additional 250,000 shares during the quarter. Abacus Life comprises 4.3% of Gratia Capital LLC's holdings, making the stock its 10th largest holding. Gratia Capital LLC owned 0.57% of Abacus Life worth $4,333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mendon Capital Advisors Corp increased its stake in Abacus Life by 137.1% during 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 in the last quarter. Curi RMB Capital LLC grew its holdings in shares of Abacus Life by 110.7% during the fourth quarter. Curi RMB Capital LLC now owns 1,159,000 shares of the company's stock valued at $9,075,000 after buying an additional 609,000 shares during the last quarter. Marshall Wace LLP purchased a new position in Abacus Life in the 4th quarter worth $1,293,000. XTX Topco Ltd acquired a new stake in Abacus Life during the 4th quarter worth about $193,000. Finally, Kennedy Capital Management LLC acquired a new position in shares of Abacus Life in the fourth quarter valued at about $7,461,000.

Analysts Set New Price Targets

A number of research firms recently commented on ABL. B. Riley decreased their target price on Abacus Life from $17.00 to $15.00 and set a "buy" rating for the company in a report on Tuesday, January 7th. Piper Sandler dropped their price objective on shares of Abacus Life from $13.00 to $11.50 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Maxim Group started coverage on shares of Abacus Life in a research note on Tuesday. They issued a "buy" rating and a $14.00 price objective on the stock. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $14.00.

Abacus Life Stock Performance

Shares of NASDAQ ABL traded up $0.14 during midday trading on Friday, reaching $8.39. 166,339 shares of the stock were exchanged, compared to its average volume of 181,796. 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 firm has a 50-day simple moving average of $7.64 and a two-hundred day simple moving average of $7.91. Abacus Life, Inc. has a twelve month low of $6.34 and a twelve month high of $12.40. The firm has a market cap of $812.98 million, a price-to-earnings ratio of -46.30 and a beta of 0.16.

Abacus Life (NASDAQ:ABL - Get Free Report) last issued its quarterly earnings results on Thursday, March 27th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.13 by $0.03. Abacus Life had a negative net margin of 11.65% and a positive return on equity of 12.88%. The company had revenue of $33.21 million during the quarter, compared to analyst estimates of $28.76 million. As a group, analysts anticipate that Abacus Life, Inc. will post 0.62 EPS for the current fiscal 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.