Royce & Associates LP Acquires 77,000 Shares of Abacus Life, Inc. (NASDAQ:ABL)

Royce & Associates LP boosted its stake in Abacus Life, Inc. (NASDAQ:ABL - Free Report) by 35.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 297,000 shares of the company's stock after buying an additional 77,000 shares during the period. Royce & Associates LP owned 0.40% of Abacus Life worth $3,006,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ABL. Piper Sandler restated an "overweight" rating and issued a $13.00 price objective (up previously from $12.00) on shares of Abacus Life in a report on Friday, November 8th. B. Riley reissued a "buy" rating and issued a $16.00 price target (up from $15.00) on shares of Abacus Life in a report on Thursday, August 29th. TD Cowen assumed coverage on shares of Abacus Life in a research note on Wednesday, August 7th. They issued a "buy" rating and a $14.00 price objective on the stock. Northland Capmk raised shares of Abacus Life to a "strong-buy" rating in a research note on Thursday, October 24th. Finally, Northland Securities began coverage on shares of Abacus Life in a research report on Thursday, October 24th. They issued an "outperform" rating and a $13.50 price target on the stock. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $14.50.

Abacus Life Stock Performance

Shares of ABL remained flat at $8.43 during midday trading on Tuesday. 26,462 shares of the company's stock traded hands, compared to its average volume of 63,013. The stock's fifty day moving average price is $9.40 and its 200-day moving average price is $9.89. The company has a market capitalization of $629.30 million, a price-to-earnings ratio of -46.83 and a beta of 0.15. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.65. Abacus Life, Inc. has a one year low of $6.22 and a one year high of $13.25.

Abacus Life (NASDAQ:ABL - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.20 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.06. Abacus Life had a negative net margin of 11.65% and a positive return on equity of 12.88%. The firm had revenue of $28.15 million during the quarter, compared to analyst estimates of $26.08 million. During the same quarter last year, the business posted $0.01 EPS. On average, analysts expect that Abacus Life, Inc. will post 0.6 earnings per share for the current fiscal year.

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.