Foundry Partners LLC Makes New Investment in Abacus Life, Inc. (NASDAQ:ABL)

Foundry Partners LLC bought a new position in Abacus Life, Inc. (NASDAQ:ABL - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 685,000 shares of the company's stock, valued at approximately $5,364,000. Foundry Partners LLC owned approximately 0.71% of Abacus Life as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. purchased a new position in shares of Abacus Life in the 3rd quarter worth $614,000. Geode Capital Management LLC boosted its position in Abacus Life by 439.6% in the third quarter. Geode Capital Management LLC now owns 171,917 shares of the company's stock worth $1,741,000 after purchasing an additional 140,054 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Abacus Life by 3.6% during the 3rd quarter. Franklin Resources Inc. now owns 437,733 shares of the company's stock valued at $4,382,000 after purchasing an additional 15,308 shares during the period. Principal Financial Group Inc. increased its position in shares of Abacus Life by 7.9% during the 3rd quarter. Principal Financial Group Inc. now owns 1,011,143 shares of the company's stock valued at $10,233,000 after purchasing an additional 74,172 shares during the last quarter. Finally, Geneos Wealth Management Inc. bought a new position in shares of Abacus Life in the 4th quarter worth approximately $110,000.

Abacus Life Price Performance

ABL traded down $0.06 during trading on Thursday, hitting $7.04. 149,130 shares of the company traded hands, compared to its average volume of 154,247. 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 market cap of $681.85 million, a PE ratio of -38.75 and a beta of 0.16. The stock's 50-day simple moving average is $7.50 and its two-hundred day simple moving average is $8.10. Abacus Life, Inc. has a 1 year low of $6.00 and a 1 year high of $12.50.

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Abacus Life (NASDAQ:ABL - Get Free Report) last announced its 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 business had revenue of $33.21 million for the quarter, compared to the consensus estimate of $28.76 million. Abacus Life had a negative net margin of 11.65% and a positive return on equity of 12.88%. As a group, sell-side analysts anticipate that Abacus Life, Inc. will post 0.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on ABL. Piper Sandler decreased their price target on shares of Abacus Life from $13.00 to $11.50 and set an "overweight" rating on the stock in a research report on Tuesday. B. Riley decreased their price objective on Abacus Life from $17.00 to $15.00 and set a "buy" rating on the stock in a research note on Tuesday, January 7th. 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 currently has an average rating of "Buy" and an average target price of $14.00.

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.