Abacus Life, Inc. $ABL Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its position in Abacus Life, Inc. (NASDAQ:ABL) by 6.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,475,053 shares of the company’s stock after purchasing an additional 86,705 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 1.52% of Abacus Life worth $7,818,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its position in shares of Abacus Life by 13.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,928,293 shares of the company’s stock valued at $14,443,000 after purchasing an additional 221,712 shares during the period. Royce & Associates LP boosted its position in shares of Abacus Life by 39.6% in the 1st quarter. Royce & Associates LP now owns 1,824,253 shares of the company’s stock valued at $13,664,000 after purchasing an additional 517,822 shares during the period. Mendon Capital Advisors Corp boosted its position in shares of Abacus Life by 9.1% in the 1st quarter. Mendon Capital Advisors Corp now owns 1,422,171 shares of the company’s stock valued at $10,652,000 after purchasing an additional 118,345 shares during the period. Curi RMB Capital LLC boosted its position in shares of Abacus Life by 10.0% in the 1st quarter. Curi RMB Capital LLC now owns 1,275,000 shares of the company’s stock valued at $9,550,000 after purchasing an additional 116,000 shares during the period. Finally, Foundry Partners LLC boosted its position in shares of Abacus Life by 10.5% in the 1st quarter. Foundry Partners LLC now owns 756,957 shares of the company’s stock valued at $5,670,000 after purchasing an additional 71,957 shares during the period.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Abacus Life in a research report on Wednesday, October 8th. Piper Sandler reduced their price objective on Abacus Life from $10.00 to $9.00 and set an “overweight” rating for the company in a research note on Thursday, October 9th. Finally, Wall Street Zen raised Abacus Life from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.88.

Abacus Life Stock Down 3.9%

ABL opened at $5.48 on Monday. The business has a 50 day moving average price of $6.30 and a two-hundred day moving average price of $6.57. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.57. The company has a market cap of $530.24 million, a PE ratio of -91.33 and a beta of -0.01. Abacus Life, Inc. has a 52 week low of $4.60 and a 52 week high of $9.85.

Abacus Life (NASDAQ:ABL) last issued its earnings results on Thursday, August 7th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The business had revenue of $56.23 million during the quarter, compared to the consensus estimate of $43.38 million. Abacus Life had a positive return on equity of 17.65% and a negative net margin of 0.72%. As a group, research analysts anticipate that Abacus Life, Inc. will post 0.62 EPS for the current year.

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.