AWM Investment Company Inc. Grows Stake in Abacus Life, Inc. $ABL

AWM Investment Company Inc. raised its holdings in shares of Abacus Life, Inc. (NASDAQ:ABL) by 59.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,083,695 shares of the company’s stock after purchasing an additional 403,159 shares during the period. AWM Investment Company Inc. owned 1.12% of Abacus Life worth $5,570,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. AlphaQuest LLC acquired a new stake in Abacus Life during the 2nd quarter valued at approximately $25,000. Darwin Wealth Management LLC acquired a new position in shares of Abacus Life during the 2nd quarter worth approximately $27,000. Raymond James Financial Inc. purchased a new position in shares of Abacus Life during the 2nd quarter valued at approximately $34,000. Legal & General Group Plc acquired a new stake in Abacus Life in the 2nd quarter valued at $34,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in Abacus Life in the 2nd quarter worth $41,000.

Abacus Life Stock Performance

Shares of Abacus Life stock opened at $8.30 on Friday. The business’s 50 day moving average price is $6.17 and its 200 day moving average price is $6.07. The company has a market cap of $811.33 million, a price-to-earnings ratio of 103.75 and a beta of -0.06. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.93 and a current ratio of 0.93. Abacus Life, Inc. has a one year low of $4.60 and a one year high of $9.61.

Abacus Life (NASDAQ:ABL) last issued its earnings results on Thursday, November 6th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.02. The company had revenue of $62.98 million during the quarter, compared to analysts’ expectations of $47.42 million. Abacus Life had a return on equity of 16.90% and a net margin of 5.62%. On average, research analysts predict that Abacus Life, Inc. will post 0.62 EPS for the current year.

Abacus Life Dividend Announcement

The business also recently announced an annual dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Tuesday, December 2nd will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a yield of 311.0%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. B. Riley upgraded shares of Abacus Life to a “strong-buy” rating in a research report on Friday, November 7th. Piper Sandler lowered their target price on shares of Abacus Life from $10.00 to $9.00 and set an “overweight” rating on the stock in a research note on Thursday, October 9th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Abacus Life in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $12.67.

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.