Two Sigma Investments LP Acquires Shares of 78,811 Abacus Life, Inc. (NASDAQ:ABL)

Two Sigma Investments LP acquired a new stake in Abacus Life, Inc. (NASDAQ:ABL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 78,811 shares of the company’s stock, valued at approximately $617,000. Two Sigma Investments LP owned approximately 0.08% of Abacus Life as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted 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 valued at $10,830,000 after acquiring an additional 263,036 shares during the period. Stieven Capital Advisors L.P. boosted its holdings in 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 holdings in Abacus Life by 7.5% during the 4th quarter. Richard W. Paul & Associates LLC now owns 41,836 shares of the company’s stock valued at $328,000 after acquiring an additional 2,934 shares during the period. Royce & Associates LP boosted its holdings in Abacus Life by 339.9% during the 4th quarter. Royce & Associates LP now owns 1,306,431 shares of the company’s stock valued at $10,229,000 after acquiring an additional 1,009,431 shares during the period. Finally, Sei Investments Co. boosted its holdings in Abacus Life by 38.8% during the 4th quarter. Sei Investments Co. now owns 81,525 shares of the company’s stock valued at $638,000 after acquiring an additional 22,783 shares during the period.

Analyst Ratings Changes

ABL has been the subject of a number of research analyst reports. Piper Sandler raised their target price on Abacus Life from $11.50 to $12.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Maxim Group initiated coverage on Abacus Life in a research note on Tuesday, April 29th. They issued a “buy” rating and a $14.00 price objective for the company. Six equities research 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, Abacus Life presently has a consensus rating of “Buy” and an average price target of $14.08.

Abacus Life Stock Performance

Shares of ABL opened at $6.05 on Monday. The stock has a 50-day simple moving average of $7.92 and a 200-day simple moving average of $7.75. 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 stock has a market capitalization of $585.96 million, a PE ratio of -33.61 and a beta of 0.11. Abacus Life, Inc. has a 1 year low of $5.10 and a 1 year high of $12.39.

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

About Abacus Life

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.