QTR Family Wealth LLC Buys 262,620 Shares of Abacus Life, Inc. $ABL

QTR Family Wealth LLC increased its stake in shares of Abacus Life, Inc. (NASDAQ:ABL) by 427.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 324,124 shares of the company’s stock after acquiring an additional 262,620 shares during the quarter. Abacus Life comprises about 1.0% of QTR Family Wealth LLC’s holdings, making the stock its 25th largest position. QTR Family Wealth LLC’s holdings in Abacus Life were worth $1,666,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Millennium Management LLC grew its stake in shares of Abacus Life by 1,629.1% during the fourth quarter. Millennium Management LLC now owns 192,019 shares of the company’s stock valued at $1,504,000 after purchasing an additional 180,914 shares during the last quarter. Two Sigma Investments LP bought a new stake in shares of Abacus Life during the fourth quarter valued at approximately $617,000. Jane Street Group LLC bought a new stake in shares of Abacus Life during the fourth quarter valued at approximately $282,000. Foundry Partners LLC grew its stake in shares of Abacus Life by 10.5% during the first 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 last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Abacus Life by 152.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 154,700 shares of the company’s stock valued at $1,159,000 after purchasing an additional 93,348 shares during the last quarter.

Abacus Life Trading Down 3.2%

Shares of NASDAQ:ABL opened at $5.73 on Wednesday. Abacus Life, Inc. has a 12 month low of $4.60 and a 12 month high of $10.30. 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’s fifty day simple moving average is $6.19 and its 200 day simple moving average is $6.73. The firm has a market cap of $554.43 million, a price-to-earnings ratio of -95.50 and a beta of 0.03.

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

Analyst Ratings Changes

ABL has been the topic of several research analyst reports. Wall Street Zen raised shares of Abacus Life from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Piper Sandler reduced their price objective on shares of Abacus Life from $12.00 to $10.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $13.13.

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.