Stieven Capital Advisors L.P. raised its stake in Abacus Life, Inc. (NASDAQ:ABL - Free Report) by 128.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 741,810 shares of the company's stock after acquiring an additional 416,800 shares during the quarter. Stieven Capital Advisors L.P. owned about 0.88% of Abacus Life worth $5,808,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABL. Allspring Global Investments Holdings LLC increased its position in Abacus Life by 23.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,399,204 shares of the company's stock valued at $10,830,000 after acquiring an additional 263,036 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Abacus Life by 439.6% in the 3rd quarter. Geode Capital Management LLC now owns 171,917 shares of the company's stock valued at $1,741,000 after purchasing an additional 140,054 shares during the last quarter. Royce & Associates LP boosted its stake in shares of Abacus Life by 35.0% in the 3rd quarter. Royce & Associates LP now owns 297,000 shares of the company's stock valued at $3,006,000 after purchasing an additional 77,000 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Abacus Life by 7.9% in 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, Evernest Financial Advisors LLC bought a new position in shares of Abacus Life in the 3rd quarter valued at about $681,000.
Insider Buying and Selling at Abacus Life
In other Abacus Life news, insider Matthew Ganovsky sold 156,250 shares of Abacus Life stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $8.00, for a total transaction of $1,250,000.00. Following the completion of the transaction, the insider now directly owns 10,847,047 shares of the company's stock, valued at $86,776,376. The trade was a 1.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jay J. Jackson sold 2,031,250 shares of the business's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $8.00, for a total transaction of $16,250,000.00. Following the completion of the sale, the chief executive officer now directly owns 10,562,000 shares of the company's stock, valued at approximately $84,496,000. The trade was a 16.13 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 36,367 shares of company stock valued at $279,626 and have sold 2,263,300 shares valued at $18,106,400. Insiders own 79.20% of the company's stock.
Abacus Life Trading Down 0.4 %
Abacus Life stock traded down $0.03 during midday trading on Wednesday, hitting $7.61. 103,847 shares of the stock were exchanged, compared to its average volume of 216,489. The company has a fifty day simple moving average of $7.68 and a two-hundred day simple moving average of $8.81. Abacus Life, Inc. has a 52 week low of $6.75 and a 52 week high of $12.65. The stock has a market capitalization of $735.47 million, a PE ratio of -42.28 and a beta of 0.14. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.65.
Analyst Ratings Changes
ABL has been the topic of several recent research reports. Piper Sandler reaffirmed an "overweight" rating and issued a $13.00 target price (up previously from $12.00) on shares of Abacus Life in a research note on Friday, November 8th. Northland Capmk raised shares of Abacus Life to a "strong-buy" rating in a research note on Thursday, October 24th. Northland Securities initiated coverage on shares of Abacus Life in a research note on Thursday, October 24th. They issued an "outperform" rating and a $13.50 target price on the stock. Finally, B. Riley reduced their target price 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. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Abacus Life currently has a consensus rating of "Buy" and an average price target of $14.30.
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About Abacus Life
(
Free Report)
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.
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