Kennedy Capital Management LLC Acquires New Position in Abacus Life, Inc. (NASDAQ:ABL)

Kennedy Capital Management LLC acquired a new position in shares of Abacus Life, Inc. (NASDAQ:ABL - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 952,827 shares of the company's stock, valued at approximately $7,461,000. Kennedy Capital Management LLC owned 0.99% of Abacus Life at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Geneos Wealth Management Inc. acquired a new stake in Abacus Life in the fourth quarter valued at about $110,000. JPMorgan Chase & Co. boosted its stake in shares of Abacus Life by 640.9% in the fourth 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 in the last quarter. LPL Financial LLC grew its holdings in 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 period. Richard W. Paul & Associates LLC raised its position in Abacus Life by 7.5% in the fourth quarter. Richard W. Paul & Associates LLC now owns 41,836 shares of the company's stock worth $328,000 after acquiring an additional 2,934 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. acquired a new stake in Abacus Life in the third quarter valued at $614,000.

Abacus Life Price Performance

NASDAQ ABL traded up $0.02 during trading hours on Wednesday, reaching $8.02. The company's stock had a trading volume of 458,659 shares, compared to its average volume of 166,136. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.29 and a current ratio of 1.29. The company's 50-day moving average is $7.50 and its two-hundred day moving average is $8.02. Abacus Life, Inc. has a fifty-two week low of $6.34 and a fifty-two week high of $12.45. The stock has a market cap of $776.76 million, a PE ratio of -44.55 and a beta of 0.16.

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Abacus Life (NASDAQ:ABL - Get Free Report) last issued its quarterly earnings data on Thursday, March 27th. The company reported $0.16 earnings per share 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 during the quarter, compared to analysts' expectations of $28.76 million. Analysts forecast that Abacus Life, Inc. will post 0.62 EPS for the current year.

Wall Street Analysts Forecast Growth

ABL has been the topic of a number of recent analyst reports. B. Riley lowered 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 note on Tuesday, January 7th. Piper Sandler dropped their target price on shares of Abacus Life from $13.00 to $11.50 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. 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.