250,000 Shares in Abacus Life, Inc. (NASDAQ:ABL) Bought by Discovery Capital Management LLC CT

Discovery Capital Management LLC CT bought a new stake in Abacus Life, Inc. (NASDAQ:ABL) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 250,000 shares of the company’s stock, valued at approximately $1,958,000. Discovery Capital Management LLC CT owned 0.26% of Abacus Life as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ABL. Geneos Wealth Management Inc. purchased a new position in Abacus Life in the 4th quarter valued at $110,000. JPMorgan Chase & Co. lifted its stake in shares of Abacus Life by 640.9% in the fourth quarter. JPMorgan Chase & Co. now owns 16,670 shares of the company’s stock worth $131,000 after buying an additional 14,420 shares in the last quarter. LPL Financial LLC boosted its position in Abacus Life by 31.0% during the fourth quarter. LPL Financial LLC now owns 23,288 shares of the company’s stock worth $182,000 after acquiring an additional 5,507 shares during the last quarter. Richard W. Paul & Associates LLC grew its stake in Abacus Life by 7.5% during the 4th quarter. Richard W. Paul & Associates LLC now owns 41,836 shares of the company’s stock valued at $328,000 after acquiring an additional 2,934 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. acquired a new stake in Abacus Life in the 3rd quarter valued at about $614,000.

Analyst Upgrades and Downgrades

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

Abacus Life Stock Performance

NASDAQ:ABL opened at $7.49 on Tuesday. The company’s 50-day moving average is $7.62 and its two-hundred day moving average is $8.26. Abacus Life, Inc. has a 1-year low of $6.75 and a 1-year high of $12.50. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market capitalization of $723.87 million, a price-to-earnings ratio of -41.61 and a beta of 0.14.

Abacus Life (NASDAQ:ABL) last issued its quarterly earnings data on Thursday, March 27th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.03. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. The company had revenue of $33.21 million during the quarter, compared to analyst estimates of $28.76 million. Analysts forecast that Abacus Life, Inc. will post 0.62 EPS for the current year.

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.