Jane Street Group LLC Invests $282,000 in Abacus Life, Inc. (NASDAQ:ABL)

Jane Street Group LLC bought a new position in Abacus Life, Inc. (NASDAQ:ABL) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 35,960 shares of the company’s stock, valued at approximately $282,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its holdings in Abacus Life by 23.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,399,204 shares of the company’s stock worth $10,830,000 after buying an additional 263,036 shares during the last quarter. Royce & Associates LP grew its stake in Abacus Life by 339.9% during the 4th quarter. Royce & Associates LP now owns 1,306,431 shares of the company’s stock worth $10,229,000 after buying an additional 1,009,431 shares during the last quarter. Mendon Capital Advisors Corp increased its position in Abacus Life by 137.1% in the fourth quarter. Mendon Capital Advisors Corp now owns 1,303,826 shares of the company’s stock worth $10,209,000 after buying an additional 753,826 shares during the period. Curi RMB Capital LLC increased its position in Abacus Life by 110.7% in the fourth quarter. Curi RMB Capital LLC now owns 1,159,000 shares of the company’s stock worth $9,075,000 after buying an additional 609,000 shares during the period. Finally, Kennedy Capital Management LLC acquired a new position in shares of Abacus Life during the fourth quarter valued at $7,461,000.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Maxim Group initiated coverage on shares of Abacus Life in a report on Tuesday, April 29th. They issued a “buy” rating and a $14.00 price objective for the company. Piper Sandler upped their price target on shares of Abacus Life from $11.50 to $12.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $14.08.

Abacus Life Trading Up 0.4%

Shares of NASDAQ ABL opened at $7.64 on Wednesday. Abacus Life, Inc. has a fifty-two week low of $6.34 and a fifty-two week high of $12.39. The firm has a market capitalization of $739.96 million, a P/E ratio of -42.44 and a beta of 0.14. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.29. The company’s 50 day simple moving average is $8.01 and its 200 day simple moving average is $7.81.

Abacus Life (NASDAQ:ABL) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.02. The company had revenue of $44.14 million during the quarter, compared to analyst estimates of $39.51 million. Abacus Life had a negative net margin of 11.65% and a positive return on equity of 12.88%. On average, analysts predict that Abacus Life, Inc. will post 0.62 EPS for the current 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.