Royce & Associates LP Buys 1,009,431 Shares of Abacus Life, Inc. (NASDAQ:ABL)

Royce & Associates LP increased its stake in shares of Abacus Life, Inc. (NASDAQ:ABL) by 339.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,306,431 shares of the company’s stock after acquiring an additional 1,009,431 shares during the quarter. Royce & Associates LP’s holdings in Abacus Life were worth $10,229,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geneos Wealth Management Inc. bought a new stake in shares of Abacus Life during the fourth quarter worth approximately $110,000. Richard W. Paul & Associates LLC lifted its holdings 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 worth $328,000 after purchasing an additional 2,934 shares during the last quarter. Charles Schwab Investment Management Inc. bought a new stake in Abacus Life in the 3rd quarter valued at $614,000. Evernest Financial Advisors LLC grew 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 buying an additional 42,950 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Abacus Life by 439.6% during the 3rd quarter. Geode Capital Management LLC now owns 171,917 shares of the company’s stock worth $1,741,000 after buying an additional 140,054 shares during the period.

Abacus Life Price Performance

Abacus Life stock opened at $7.60 on Tuesday. The firm has a market cap of $734.50 million, a PE ratio of -42.22 and a beta of 0.14. 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 stock’s fifty day moving average price is $7.59 and its two-hundred day moving average price is $8.43. Abacus Life, Inc. has a one year low of $6.75 and a one year high of $12.65.

Insider Transactions at Abacus Life

In related news, insider Sean Mcnealy sold 75,800 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $8.00, for a total transaction of $606,400.00. Following the sale, the insider now owns 12,361,500 shares in the company, valued at approximately $98,892,000. This trade represents a 0.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 79.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, B. Riley reduced their target price on shares of Abacus Life from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $14.30.

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.