Marshall Wace LLP Buys New Shares in Abacus Life, Inc. (NASDAQ:ABL)

Marshall Wace LLP bought 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 SEC. The firm bought 165,090 shares of the company's stock, valued at approximately $1,293,000. Marshall Wace LLP owned approximately 0.17% of Abacus Life as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. purchased a new position in shares of Abacus Life in the 4th quarter valued at approximately $110,000. JPMorgan Chase & Co. lifted its holdings in shares of Abacus Life by 640.9% during the fourth 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 Abacus Life by 31.0% in the 4th quarter. LPL Financial LLC now owns 23,288 shares of the company's stock valued at $182,000 after buying an additional 5,507 shares during the last quarter. XTX Topco Ltd acquired a new position in Abacus Life in the 4th quarter valued at $193,000. Finally, Richard W. Paul & Associates LLC raised its position in Abacus Life by 7.5% during the 4th 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 during the last quarter.

Abacus Life Stock Performance

Shares of NASDAQ ABL traded up $0.04 during midday trading on Monday, hitting $8.31. The company's stock had a trading volume of 28,955 shares, compared to its average volume of 183,181. The firm has a market cap of $804.85 million, a P/E ratio of -46.29 and a beta of 0.16. Abacus Life, Inc. has a 1-year low of $6.34 and a 1-year high of $12.40. The firm's fifty day moving average price is $7.66 and its 200-day moving average price is $7.87. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.29 and a current ratio of 1.29.

Abacus Life (NASDAQ:ABL - Get Free Report) last posted its earnings results on Thursday, March 27th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.03. The firm had revenue of $33.21 million during the quarter, compared to analyst estimates of $28.76 million. Abacus Life had a negative net margin of 11.65% and a positive return on equity of 12.88%. On average, sell-side analysts forecast that Abacus Life, Inc. will post 0.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ABL shares. Piper Sandler decreased 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. B. Riley decreased their price target on Abacus Life from $17.00 to $15.00 and set a "buy" rating on the stock in a research note on Tuesday, January 7th. Finally, Maxim Group started coverage on Abacus Life in a report on Tuesday, April 29th. They set a "buy" rating and a $14.00 price objective for the company. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $14.00.

About Abacus Life

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.