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

Royce & Associates LP boosted its position in shares of Abacus Life, Inc. (NASDAQ:ABL) by 339.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,306,431 shares of the company’s stock after purchasing an additional 1,009,431 shares during the period. Royce & Associates LP owned about 1.35% of Abacus Life worth $10,229,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ABL. Geneos Wealth Management Inc. acquired a new position in shares of Abacus Life during the fourth quarter worth about $110,000. Richard W. Paul & Associates LLC boosted its position 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 acquiring an additional 2,934 shares during the last quarter. Charles Schwab Investment Management Inc. bought a new position in shares of Abacus Life during the 3rd quarter worth approximately $614,000. Evernest Financial Advisors LLC raised its holdings in shares of Abacus Life by 63.8% in the fourth quarter. Evernest Financial Advisors LLC now owns 110,250 shares of the company’s stock valued at $863,000 after purchasing an additional 42,950 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Abacus Life by 439.6% in the third quarter. Geode Capital Management LLC now owns 171,917 shares of the company’s stock worth $1,741,000 after purchasing an additional 140,054 shares in the last quarter.

Abacus Life Price Performance

NASDAQ:ABL opened at $7.60 on Tuesday. The stock has a market capitalization of $734.50 million, a PE ratio of -42.22 and a beta of 0.14. Abacus Life, Inc. has a 1-year low of $6.75 and a 1-year high of $12.65. The firm has a fifty day simple moving average of $7.59 and a 200 day simple moving average of $8.43. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.65.

Insider Buying and Selling at Abacus Life

In other Abacus Life news, insider Sean Mcnealy sold 75,800 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $8.00, for a total value of $606,400.00. Following the sale, the insider now owns 12,361,500 shares in the company, valued at $98,892,000. This represents a 0.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 79.20% of the company’s stock.

Wall Street Analyst Weigh In

Separately, B. Riley decreased 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 analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $14.30.

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.