Zimmer Partners LP Increases Position in Abacus Life, Inc. (NASDAQ:ABL)

Zimmer Partners LP boosted its stake in shares of Abacus Life, Inc. (NASDAQ:ABL) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 617,910 shares of the company’s stock after purchasing an additional 16,457 shares during the period. Zimmer Partners LP owned approximately 0.64% of Abacus Life worth $4,838,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Squarepoint Ops LLC purchased a new position in Abacus Life during the fourth quarter worth approximately $113,000. Two Sigma Investments LP purchased a new position in Abacus Life during the fourth quarter worth approximately $617,000. Seven Grand Managers LLC raised its stake in Abacus Life by 306.0% during the fourth quarter. Seven Grand Managers LLC now owns 507,485 shares of the company’s stock worth $3,974,000 after purchasing an additional 382,485 shares during the period. Point72 Asset Management L.P. increased its position in shares of Abacus Life by 2.5% in the fourth quarter. Point72 Asset Management L.P. now owns 323,432 shares of the company’s stock worth $2,532,000 after acquiring an additional 7,838 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp acquired a new stake in shares of Abacus Life in the fourth quarter worth $440,000.

Analyst Upgrades and Downgrades

ABL has been the subject of several recent research reports. Piper Sandler increased their price objective on shares of Abacus Life from $11.50 to $12.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Maxim Group initiated coverage on shares of Abacus Life in a research report on Tuesday, April 29th. They issued a “buy” rating and a $14.00 price objective for the company. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Abacus Life currently has an average rating of “Buy” and an average price target of $14.08.

Abacus Life Price Performance

ABL stock opened at $8.91 on Tuesday. Abacus Life, Inc. has a 52 week low of $6.34 and a 52 week high of $12.40. The company has a market capitalization of $862.96 million, a price-to-earnings ratio of -49.50 and a beta of 0.14. The firm’s 50-day moving average is $7.90 and its two-hundred day moving average is $7.85. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.65.

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

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.