Cubist Systematic Strategies LLC Purchases New Holdings in Abacus Life, Inc. (NASDAQ:ABL)

Cubist Systematic Strategies LLC purchased a new stake in Abacus Life, Inc. (NASDAQ:ABL) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 28,776 shares of the company’s stock, valued at approximately $225,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its holdings in Abacus Life by 7.9% in the 3rd 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 in the last quarter. Geneos Wealth Management Inc. purchased a new stake in Abacus Life in the 4th quarter valued at approximately $110,000. Evernest Financial Advisors LLC boosted its holdings in Abacus Life by 63.8% in the 4th quarter. Evernest Financial Advisors LLC now owns 110,250 shares of the company’s stock valued at $863,000 after purchasing an additional 42,950 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Abacus Life by 23.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,399,204 shares of the company’s stock valued at $10,830,000 after purchasing an additional 263,036 shares in the last quarter. Finally, Stieven Capital Advisors L.P. boosted its stake in shares of Abacus Life by 128.2% during the 4th quarter. Stieven Capital Advisors L.P. now owns 741,810 shares of the company’s stock worth $5,808,000 after acquiring an additional 416,800 shares in the last quarter.

Abacus Life Price Performance

ABL stock opened at $8.91 on Friday. Abacus Life, Inc. has a 1 year low of $6.34 and a 1 year high of $12.40. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.29 and a current ratio of 1.29. The stock’s 50 day moving average price is $7.87 and its 200 day moving average price is $7.85. The firm has a market cap of $862.96 million, a P/E ratio of -49.50 and a beta of 0.14.

Abacus Life (NASDAQ:ABL) last posted its earnings results on Thursday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. The firm had revenue of $44.14 million for the quarter, compared to analyst estimates of $39.51 million. On average, sell-side analysts expect that Abacus Life, Inc. will post 0.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ABL shares. Piper Sandler boosted their price target on Abacus Life from $11.50 to $12.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Maxim Group started coverage on Abacus Life in a research note on Tuesday, April 29th. They set a “buy” rating and a $14.00 price target on the stock. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, 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.