Seven Grand Managers LLC Boosts Stock Position in Abacus Life, Inc. (NASDAQ:ABL)

Seven Grand Managers LLC lifted its stake in Abacus Life, Inc. (NASDAQ:ABL - Free Report) by 306.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 507,485 shares of the company's stock after acquiring an additional 382,485 shares during the period. Abacus Life makes up about 1.8% of Seven Grand Managers LLC's holdings, making the stock its 21st largest holding. Seven Grand Managers LLC owned 0.53% of Abacus Life worth $3,974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in ABL. Alyeska Investment Group L.P. lifted its position in Abacus Life by 116.5% during the fourth quarter. Alyeska Investment Group L.P. now owns 2,540,790 shares of the company's stock valued at $19,894,000 after purchasing an additional 1,367,210 shares during the last quarter. Royce & Associates LP increased its position in shares of Abacus Life by 339.9% during the 4th quarter. Royce & Associates LP now owns 1,306,431 shares of the company's stock valued at $10,229,000 after purchasing an additional 1,009,431 shares during the last quarter. Kennedy Capital Management LLC purchased a new position in shares of Abacus Life during the 4th quarter valued at about $7,461,000. Monashee Investment Management LLC purchased a new stake in Abacus Life in the fourth quarter worth approximately $6,342,000. Finally, Mendon Capital Advisors Corp grew its position in Abacus Life by 137.1% during the fourth quarter. Mendon Capital Advisors Corp now owns 1,303,826 shares of the company's stock valued at $10,209,000 after acquiring an additional 753,826 shares during the last quarter.

Abacus Life Stock Up 0.6%

NASDAQ ABL opened at $8.96 on Friday. Abacus Life, Inc. has a 1 year low of $6.34 and a 1 year high of $12.40. The stock has a market capitalization of $867.80 million, a PE ratio of -49.78 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 business's 50-day moving average is $7.84 and its 200 day moving average is $7.86.

Abacus Life (NASDAQ:ABL - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.18 earnings per share for the quarter, topping analysts' consensus estimates of $0.16 by $0.02. The firm had revenue of $44.14 million for the quarter, compared to analyst estimates of $39.51 million. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. Sell-side analysts forecast that Abacus Life, Inc. will post 0.62 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ABL. Maxim Group started coverage on shares of Abacus Life in a research note on Tuesday, April 29th. They issued a "buy" rating and a $14.00 price objective for the company. Piper Sandler upped their price target on shares of Abacus Life from $11.50 to $12.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Abacus Life presently has an average rating of "Buy" and an average target price of $14.08.

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.

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