Mendon Capital Advisors Corp Has $10.21 Million Stock Position in Abacus Life, Inc. (NASDAQ:ABL)

Mendon Capital Advisors Corp boosted its position in shares of Abacus Life, Inc. (NASDAQ:ABL - Free Report) by 137.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,303,826 shares of the company's stock after acquiring an additional 753,826 shares during the period. Abacus Life comprises 5.0% of Mendon Capital Advisors Corp's investment portfolio, making the stock its 5th biggest holding. Mendon Capital Advisors Corp owned about 1.35% of Abacus Life worth $10,209,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Royce & Associates LP grew its position in shares of Abacus Life by 339.9% during the fourth quarter. Royce & Associates LP now owns 1,306,431 shares of the company's stock worth $10,229,000 after acquiring an additional 1,009,431 shares during the last quarter. Kennedy Capital Management LLC purchased a new position in Abacus Life during the 4th quarter worth $7,461,000. Foundry Partners LLC acquired a new position in Abacus Life in the fourth quarter valued at $5,364,000. Curi RMB Capital LLC raised its holdings in shares of Abacus Life by 110.7% in 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. Finally, Stieven Capital Advisors L.P. boosted its stake in shares of Abacus Life by 128.2% during the fourth quarter. Stieven Capital Advisors L.P. now owns 741,810 shares of the company's stock worth $5,808,000 after buying an additional 416,800 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ABL shares. B. Riley lowered their price objective on shares of Abacus Life from $17.00 to $15.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. Piper Sandler dropped their price target on shares of Abacus Life from $13.00 to $11.50 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Five 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 data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $14.00.

Abacus Life Trading Down 0.4 %

NASDAQ:ABL traded down $0.03 on Friday, hitting $8.27. 221,289 shares of the stock were exchanged, compared to its average volume of 177,211. The stock has a market cap of $800.97 million, a PE ratio of -45.94 and a beta of 0.16. Abacus Life, Inc. has a fifty-two week low of $6.34 and a fifty-two week high of $12.40. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.65. The stock has a fifty day moving average of $7.58 and a 200-day moving average of $7.94.

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