Moore Capital Management LP Buys Shares of 173,575 Abacus Life, Inc. (NASDAQ:ABL)

Moore Capital Management LP purchased a new stake in Abacus Life, Inc. (NASDAQ:ABL - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 173,575 shares of the company's stock, valued at approximately $1,359,000. Moore Capital Management LP owned about 0.18% of Abacus Life at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Alyeska Investment Group L.P. increased its stake in shares of Abacus Life by 116.5% in the 4th 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. Allspring Global Investments Holdings LLC increased its stake in Abacus Life by 23.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,399,204 shares of the company's stock worth $10,830,000 after purchasing an additional 263,036 shares in the last quarter. Royce & Associates LP increased its stake in 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 in the last quarter. 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 worth $10,209,000 after purchasing an additional 753,826 shares in the last quarter. Finally, Curi RMB Capital LLC increased its stake in Abacus Life by 110.7% during the 4th quarter. Curi RMB Capital LLC now owns 1,159,000 shares of the company's stock worth $9,075,000 after purchasing an additional 609,000 shares in the last quarter.

Abacus Life Stock Performance

ABL stock traded down $0.05 during trading hours on Friday, reaching $8.91. The stock had a trading volume of 312,753 shares, compared to its average volume of 200,065. The stock has a market capitalization of $862.96 million, a PE ratio of -49.50 and a beta of 0.14. 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 has a 50-day simple moving average of $7.84 and a 200 day simple moving average of $7.86. Abacus Life, Inc. has a fifty-two week low of $6.34 and a fifty-two week high of $12.40.

Abacus Life (NASDAQ:ABL - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.02. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. The business had revenue of $44.14 million during the quarter, compared to the consensus estimate of $39.51 million. Analysts predict that Abacus Life, Inc. will post 0.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ABL shares. 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, May 9th. Maxim Group started coverage on Abacus Life in a research report on Tuesday, April 29th. They set a "buy" rating and a $14.00 price target for the company. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Abacus Life presently has an average rating of "Buy" and a consensus price target of $14.08.

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.