Seven Grand Managers LLC Sells 34,982 Shares of Abacus Life, Inc. (NASDAQ:ABL)

Seven Grand Managers LLC trimmed its position in Abacus Life, Inc. (NASDAQ:ABL) by 21.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,000 shares of the company’s stock after selling 34,982 shares during the quarter. Seven Grand Managers LLC owned approximately 0.20% of Abacus Life worth $1,265,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ABL. Allspring Global Investments Holdings LLC purchased a new stake in Abacus Life in the 2nd quarter worth approximately $9,909,000. Principal Financial Group Inc. bought a new position in shares of Abacus Life in the second quarter worth $8,105,000. Point72 Asset Management L.P. purchased a new stake in shares of Abacus Life in the second quarter worth $5,190,000. Mendon Capital Advisors Corp bought a new stake in Abacus Life during the second quarter valued at $4,974,000. Finally, Clearbridge Investments LLC purchased a new position in Abacus Life during the second quarter worth about $4,342,000.

Abacus Life Stock Performance

NASDAQ:ABL opened at $9.85 on Thursday. 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 has a 50 day moving average of $10.11 and a 200 day moving average of $10.43. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.84 and a quick ratio of 1.84. Abacus Life, Inc. has a 1-year low of $5.75 and a 1-year high of $13.25.

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

Wall Street Analysts Forecast Growth

ABL has been the topic of several recent analyst reports. B. Riley Financial reaffirmed a “buy” rating and issued a $16.00 price target on shares of Abacus Life in a report on Friday, August 30th. Piper Sandler initiated coverage on shares of Abacus Life in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $12.00 target price on the stock. TD Cowen assumed coverage on shares of Abacus Life in a research report on Wednesday, August 7th. They set a “buy” rating and a $14.00 target price for the company. Finally, B. Riley reissued a “buy” rating and issued a $16.00 price target (up previously from $15.00) on shares of Abacus Life in a report on Thursday, August 29th. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $14.50.

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.