Royce & Associates LP Increases Stock Position in Abacus Life, Inc. (NASDAQ:ABL)

Royce & Associates LP increased its holdings in shares of Abacus Life, Inc. (NASDAQ:ABL) by 35.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 297,000 shares of the company’s stock after purchasing an additional 77,000 shares during the period. Royce & Associates LP’s holdings in Abacus Life were worth $3,006,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Renaissance Technologies LLC bought a new stake in Abacus Life during the 2nd quarter valued at $106,000. Levin Capital Strategies L.P. bought a new stake in Abacus Life during the second quarter valued at about $130,000. Richard W. Paul & Associates LLC grew its stake in Abacus Life by 4.8% in the second quarter. Richard W. Paul & Associates LLC now owns 30,448 shares of the company’s stock valued at $263,000 after purchasing an additional 1,401 shares during the last quarter. Quarry LP bought a new position in Abacus Life in the second quarter worth about $318,000. Finally, Sei Investments Co. bought a new position in Abacus Life in the second quarter worth about $418,000.

Abacus Life Trading Up 1.1 %

NASDAQ:ABL opened at $8.43 on Tuesday. 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 firm has a fifty day simple moving average of $9.43 and a 200-day simple moving average of $9.91. Abacus Life, Inc. has a 12 month low of $6.22 and a 12 month high of $13.25. The company has a market capitalization of $629.31 million, a P/E ratio of -46.83 and a beta of 0.15.

Abacus Life (NASDAQ:ABL) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.06. The business had revenue of $28.15 million for the quarter, compared to the consensus estimate of $26.08 million. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. During the same quarter in the previous year, the business earned $0.01 EPS. On average, equities research analysts anticipate that Abacus Life, Inc. will post 0.6 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ABL shares. B. Riley reaffirmed a “buy” rating and issued a $16.00 price objective (up previously from $15.00) on shares of Abacus Life in a research report on Thursday, August 29th. Piper Sandler reaffirmed an “overweight” rating and set a $13.00 price target (up from $12.00) on shares of Abacus Life in a research report on Friday, November 8th. TD Cowen initiated coverage on Abacus Life in a research report on Wednesday, August 7th. They issued a “buy” rating and a $14.00 price objective for the company. B. Riley Financial restated a “buy” rating and set a $16.00 target price on shares of Abacus Life in a research note on Friday, August 30th. Finally, Northland Capmk upgraded Abacus Life to a “strong-buy” rating in a research note on Thursday, October 24th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $14.50.

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.