Squarepoint Ops LLC Takes Position in Abacus Life, Inc. (NASDAQ:ABL)

Squarepoint Ops LLC bought a new position in shares of 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 institutional investor bought 14,412 shares of the company’s stock, valued at approximately $113,000.

A number of other hedge funds have also recently added to or reduced their stakes in ABL. Two Sigma Investments LP bought a new position in shares of Abacus Life during the fourth quarter valued at $617,000. Seven Grand Managers LLC raised its position in shares of Abacus Life by 306.0% during the fourth quarter. Seven Grand Managers LLC now owns 507,485 shares of the company’s stock worth $3,974,000 after acquiring an additional 382,485 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Abacus Life by 2.5% in the fourth quarter. Point72 Asset Management L.P. now owns 323,432 shares of the company’s stock worth $2,532,000 after acquiring an additional 7,838 shares during the period. OMERS ADMINISTRATION Corp bought a new stake in Abacus Life in the fourth quarter valued at approximately $440,000. Finally, Millennium Management LLC boosted its holdings in Abacus Life by 1,629.1% in the fourth quarter. Millennium Management LLC now owns 192,019 shares of the company’s stock valued at $1,504,000 after acquiring an additional 180,914 shares during the last quarter.

Abacus Life Trading Up 2.1%

NASDAQ ABL opened at $6.18 on Tuesday. The stock’s fifty day moving average price is $7.89 and its 200-day moving average price is $7.74. The stock has a market cap of $598.55 million, a P/E ratio of -34.33 and a beta of 0.11. Abacus Life, Inc. has a 12 month low of $5.10 and a 12 month high of $12.39. 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 (NASDAQ:ABL) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. The company had revenue of $44.14 million for the quarter, compared to the consensus estimate of $39.51 million. Abacus Life had a negative net margin of 11.65% and a positive return on equity of 12.88%. As a group, equities analysts forecast that Abacus Life, Inc. will post 0.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.