Foundry Partners LLC Buys Shares of 685,000 Abacus Life, Inc. (NASDAQ:ABL)

Foundry Partners LLC purchased a new position in Abacus Life, Inc. (NASDAQ:ABL) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 685,000 shares of the company’s stock, valued at approximately $5,364,000. Foundry Partners LLC owned 0.71% of Abacus Life at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ABL. Discovery Capital Management LLC CT bought a new position in shares of Abacus Life in the fourth quarter valued at approximately $1,958,000. Geode Capital Management LLC boosted its holdings in Abacus Life by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 177,227 shares of the company’s stock valued at $1,389,000 after purchasing an additional 5,310 shares during the period. Franklin Resources Inc. grew its position in shares of Abacus Life by 32.0% during the 4th quarter. Franklin Resources Inc. now owns 577,768 shares of the company’s stock valued at $4,524,000 after purchasing an additional 140,035 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of Abacus Life by 24.0% in the fourth quarter. Clearbridge Investments LLC now owns 645,712 shares of the company’s stock worth $5,056,000 after purchasing an additional 124,792 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Abacus Life by 640.9% during the fourth quarter. JPMorgan Chase & Co. now owns 16,670 shares of the company’s stock valued at $131,000 after buying an additional 14,420 shares during the period.

Abacus Life Stock Performance

NASDAQ ABL opened at $7.08 on Friday. The company has a market capitalization of $684.25 million, a P/E ratio of -39.33 and a beta of 0.14. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.29 and a current ratio of 1.29. Abacus Life, Inc. has a 52-week low of $6.75 and a 52-week high of $12.50. The company has a fifty day moving average of $7.60 and a 200-day moving average of $8.21.

Abacus Life (NASDAQ:ABL) last posted its quarterly earnings data on Thursday, March 27th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. The firm had revenue of $33.21 million during the quarter, compared to analysts’ expectations of $28.76 million. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. As a group, equities research analysts predict that Abacus Life, Inc. will post 0.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, B. Riley decreased their target price on Abacus Life from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $14.30.

Abacus Life 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.