Seven Grand Managers LLC Decreases Stock Holdings in Abacus Life, Inc. (NASDAQ:ABL)

Seven Grand Managers LLC reduced its position in shares of Abacus Life, Inc. (NASDAQ:ABL) by 21.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 125,000 shares of the company’s stock after selling 34,982 shares during the quarter. Seven Grand Managers LLC’s holdings in Abacus Life were worth $1,265,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ABL. Mendon Capital Advisors Corp bought a new position in Abacus Life during the 2nd quarter valued at approximately $4,974,000. Clearbridge Investments LLC purchased a new position in shares of Abacus Life during the second quarter valued at approximately $4,342,000. Point72 Asset Management L.P. bought a new position in shares of Abacus Life during the second quarter valued at approximately $5,190,000. Quarry LP purchased a new stake in Abacus Life in the second quarter worth $318,000. Finally, Sei Investments Co. purchased a new stake in Abacus Life in the second quarter worth $418,000.

Abacus Life Trading Up 0.8 %

Abacus Life stock opened at $9.85 on Thursday. Abacus Life, Inc. has a 12 month low of $5.75 and a 12 month high of $13.25. The company has a market capitalization of $629.66 million, a price-to-earnings ratio of 492.50 and a beta of 0.12. The business’s fifty day simple moving average is $10.11 and its two-hundred day simple moving average is $10.43. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.59.

Abacus Life (NASDAQ:ABL) last posted its quarterly earnings results on Monday, August 12th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.05. Abacus Life had a positive return on equity of 7.02% and a negative net margin of 6.19%. The firm had revenue of $29.08 million during the quarter, compared to analyst estimates of $28.57 million. During the same quarter in the previous year, the firm earned $0.13 EPS. As a group, equities analysts predict that Abacus Life, Inc. will post 0.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on ABL shares. Piper Sandler assumed coverage on shares of Abacus Life in a report on Wednesday, June 26th. They issued an “overweight” rating and a $12.00 price objective for the company. TD Cowen initiated coverage on shares of Abacus Life in a research note on Wednesday, August 7th. They issued a “buy” rating and a $14.00 price target for the company. B. Riley reaffirmed a “buy” rating and set a $16.00 price objective (up from $15.00) on shares of Abacus Life in a research report on Thursday, August 29th. Finally, B. Riley Financial reiterated a “buy” rating and set a $16.00 target price on shares of Abacus Life in a report on Friday, August 30th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $14.50.

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.