Curi RMB Capital LLC Buys 609,000 Shares of Abacus Life, Inc. (NASDAQ:ABL)

Curi RMB Capital LLC raised its position in shares of Abacus Life, Inc. (NASDAQ:ABL - Free Report) by 110.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,159,000 shares of the company's stock after buying an additional 609,000 shares during the quarter. Curi RMB Capital LLC owned about 1.20% of Abacus Life worth $9,075,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ABL. Piper Sandler dropped their price target on shares of Abacus Life from $13.00 to $11.50 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. B. Riley reduced their price target on shares of Abacus Life from $17.00 to $15.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $14.00.

Abacus Life Price Performance

Shares of NASDAQ ABL remained flat at $8.30 during midday trading on Thursday. 410,525 shares of the stock were exchanged, compared to its average volume of 175,267. The business's 50 day moving average is $7.56 and its 200-day moving average is $7.97. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $803.88 million, a P/E ratio of -46.11 and a beta of 0.16. Abacus Life, Inc. has a 52 week low of $6.34 and a 52 week high of $12.45.

Abacus Life (NASDAQ:ABL - Get Free Report) last released its quarterly earnings results on Thursday, March 27th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.03. The company had revenue of $33.21 million during the quarter, compared to analysts' expectations of $28.76 million. Abacus Life had a negative net margin of 11.65% and a positive return on equity of 12.88%. Equities research analysts expect that Abacus Life, Inc. will post 0.62 earnings per share for the current fiscal year.

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.