Royce & Associates LP Grows Stock Holdings in Abacus Life, Inc. (NASDAQ:ABL)

Royce & Associates LP grew its holdings in Abacus Life, Inc. (NASDAQ:ABL) by 35.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 297,000 shares of the company’s stock after buying an additional 77,000 shares during the period. Royce & Associates LP owned approximately 0.40% of Abacus Life worth $3,006,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in ABL. Curi RMB Capital LLC lifted its holdings in shares of Abacus Life by 2.4% in the 3rd quarter. Curi RMB Capital LLC now owns 550,000 shares of the company’s stock valued at $5,566,000 after acquiring an additional 12,765 shares during the last quarter. Principal Financial Group Inc. raised its position in Abacus Life by 7.9% during the third quarter. Principal Financial Group Inc. now owns 1,011,143 shares of the company’s stock valued at $10,233,000 after purchasing an additional 74,172 shares during the period. Evernest Financial Advisors LLC bought a new stake in shares of Abacus Life in the 3rd quarter valued at approximately $681,000. Richard W. Paul & Associates LLC boosted its holdings in shares of Abacus Life by 27.8% in the 3rd quarter. Richard W. Paul & Associates LLC now owns 38,902 shares of the company’s stock worth $394,000 after purchasing an additional 8,454 shares during the period. Finally, Mendon Capital Advisors Corp bought a new position in shares of Abacus Life during the 2nd quarter valued at approximately $4,974,000.

Abacus Life Price Performance

Shares of ABL stock opened at $8.43 on Tuesday. The company’s 50-day simple moving average is $9.43 and its two-hundred day simple moving average is $9.91. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.29. Abacus Life, Inc. has a one year low of $6.22 and a one year high of $13.25. The company has a market capitalization of $629.31 million, a P/E ratio of -46.83 and a beta of 0.15.

Abacus Life (NASDAQ:ABL) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.06. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. The company had revenue of $28.15 million for the quarter, compared to analysts’ expectations of $26.08 million. During the same quarter in the prior year, the firm earned $0.01 earnings per share. As a group, equities analysts anticipate that Abacus Life, Inc. will post 0.6 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ABL. Northland Capmk upgraded Abacus Life to a “strong-buy” rating in a research report on Thursday, October 24th. Piper Sandler reaffirmed an “overweight” rating and set a $13.00 price target (up from $12.00) on shares of Abacus Life in a research note on Friday, November 8th. Northland Securities began coverage on shares of Abacus Life in a research report on Thursday, October 24th. They issued an “outperform” rating and a $13.50 price objective on the stock. B. Riley Financial restated a “buy” rating and set a $16.00 target price on shares of Abacus Life in a research report on Friday, August 30th. Finally, TD Cowen assumed coverage on Abacus Life in a report on Wednesday, August 7th. They issued a “buy” rating and a $14.00 price target on the stock. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $14.50.

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.