Millennium Management LLC Purchases 180,914 Shares of Abacus Life, Inc. (NASDAQ:ABL)

Millennium Management LLC boosted its position in Abacus Life, Inc. (NASDAQ:ABL) by 1,629.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 192,019 shares of the company’s stock after buying an additional 180,914 shares during the period. Millennium Management LLC owned approximately 0.20% of Abacus Life worth $1,504,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of 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 in the last quarter. Stieven Capital Advisors L.P. lifted its position in shares of Abacus Life by 128.2% during the 4th quarter. Stieven Capital Advisors L.P. now owns 741,810 shares of the company’s stock valued at $5,808,000 after acquiring an additional 416,800 shares during the period. Richard W. Paul & Associates LLC boosted its stake in Abacus Life by 7.5% during 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. Royce & Associates LP boosted its stake in Abacus Life by 339.9% during the fourth quarter. Royce & Associates LP now owns 1,306,431 shares of the company’s stock worth $10,229,000 after acquiring an additional 1,009,431 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in Abacus Life by 38.8% in the fourth quarter. Sei Investments Co. now owns 81,525 shares of the company’s stock worth $638,000 after purchasing an additional 22,783 shares during the period.

Abacus Life Stock Performance

ABL opened at $7.64 on Wednesday. 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’s fifty day moving average price is $8.01 and its two-hundred day moving average price is $7.81. Abacus Life, Inc. has a 1-year low of $6.34 and a 1-year high of $12.39. The company has a market cap of $739.96 million, a price-to-earnings ratio of -42.44 and a beta of 0.14.

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Piper Sandler upped their price objective on shares of Abacus Life from $11.50 to $12.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Maxim Group assumed coverage on Abacus Life in a research note on Tuesday, April 29th. They set a “buy” rating and a $14.00 price target on the stock. Six investment 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 presently has an average rating of “Buy” and an average target price of $14.08.

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.