Renaissance Technologies LLC Buys 164,334 Shares of Abacus Life, Inc. (NASDAQ:ABL)

Renaissance Technologies LLC lifted its holdings in Abacus Life, Inc. (NASDAQ:ABL - Free Report) by 356.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 210,500 shares of the company's stock after acquiring an additional 164,334 shares during the quarter. Renaissance Technologies LLC owned approximately 0.22% of Abacus Life worth $1,648,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Geneos Wealth Management Inc. acquired a new stake in shares of Abacus Life in the fourth quarter valued at approximately $110,000. JPMorgan Chase & Co. increased its stake in shares of Abacus Life by 640.9% in the 4th quarter. JPMorgan Chase & Co. now owns 16,670 shares of the company's stock valued at $131,000 after buying an additional 14,420 shares during the period. LPL Financial LLC raised its position in shares of Abacus Life by 31.0% during the fourth quarter. LPL Financial LLC now owns 23,288 shares of the company's stock worth $182,000 after acquiring an additional 5,507 shares during the last quarter. Richard W. Paul & Associates LLC lifted its stake in shares of 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. Finally, Sei Investments Co. boosted its holdings in Abacus Life by 38.8% in the fourth quarter. Sei Investments Co. now owns 81,525 shares of the company's stock valued at $638,000 after acquiring an additional 22,783 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages have weighed in on ABL. B. Riley dropped their price objective 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 reduced their price objective 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. Finally, Maxim Group assumed coverage on Abacus Life in a research note on Tuesday. They issued a "buy" rating and a $14.00 price target on the stock. Six 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, the company has an average rating of "Buy" and a consensus target price of $14.00.

Abacus Life Stock Up 0.1 %

Shares of NASDAQ:ABL traded up $0.01 during trading on Friday, hitting $8.26. 24,301 shares of the company's stock traded hands, compared to its average volume of 181,191. 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 company has a 50-day moving average price of $7.64 and a 200-day moving average price of $7.91. Abacus Life, Inc. has a 52 week low of $6.34 and a 52 week high of $12.40. The company has a market cap of $800.01 million, a price-to-earnings ratio of -46.00 and a beta of 0.16.

Abacus Life (NASDAQ:ABL - Get Free Report) last issued its quarterly earnings data on Thursday, March 27th. The company reported $0.16 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $33.21 million for the quarter, compared to analyst estimates of $28.76 million. As a group, research analysts forecast that Abacus Life, Inc. will post 0.62 EPS for the current fiscal year.

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.