Monashee Investment Management LLC Takes $6.34 Million Position in Abacus Life, Inc. (NASDAQ:ABL)

Monashee Investment Management LLC acquired a new position in Abacus Life, Inc. (NASDAQ:ABL - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 810,000 shares of the company's stock, valued at approximately $6,342,000. Abacus Life accounts for 0.9% of Monashee Investment Management LLC's holdings, making the stock its 14th biggest position. Monashee Investment Management LLC owned approximately 0.84% of Abacus Life at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in ABL. Geneos Wealth Management Inc. bought a new stake in Abacus Life in the fourth quarter worth $110,000. JPMorgan Chase & Co. lifted its position in Abacus Life by 640.9% during the fourth quarter. JPMorgan Chase & Co. now owns 16,670 shares of the company's stock valued at $131,000 after purchasing an additional 14,420 shares in the last quarter. LPL Financial LLC increased its holdings in Abacus Life by 31.0% in the 4th quarter. LPL Financial LLC now owns 23,288 shares of the company's stock worth $182,000 after acquiring an additional 5,507 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Abacus Life in the fourth quarter worth $193,000. Finally, Richard W. Paul & Associates LLC raised its holdings in Abacus Life by 7.5% during the fourth quarter. Richard W. Paul & Associates LLC now owns 41,836 shares of the company's stock valued at $328,000 after acquiring an additional 2,934 shares during the period.

Abacus Life Stock Up 0.5 %

Abacus Life stock traded up $0.04 during midday trading on Monday, reaching $8.31. The company's stock had a trading volume of 104,353 shares, compared to its average volume of 183,457. The stock has a market capitalization of $804.85 million, a P/E ratio of -46.16 and a beta of 0.16. Abacus Life, Inc. has a 52-week low of $6.34 and a 52-week high of $12.40. 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 stock's 50-day simple moving average is $7.66 and its 200-day simple moving average is $7.87.

Abacus Life (NASDAQ:ABL - Get Free Report) last issued its quarterly earnings results on Thursday, March 27th. The company reported $0.16 earnings per share 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 for the quarter, compared to the consensus estimate of $28.76 million. On average, sell-side analysts expect that Abacus Life, Inc. will post 0.62 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on ABL. Maxim Group started coverage on Abacus Life in a report on Tuesday, April 29th. They issued a "buy" rating and a $14.00 target price on the stock. B. Riley decreased their price objective on shares of Abacus Life from $17.00 to $15.00 and set a "buy" rating for the company in a research note on Tuesday, January 7th. Finally, Piper Sandler cut their price target 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. 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, Abacus Life presently has an average rating of "Buy" and an average price target of $14.00.

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.