60,636 Shares in Abacus Life, Inc. (NASDAQ:ABL) Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. purchased a new stake in Abacus Life, Inc. (NASDAQ:ABL) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 60,636 shares of the company’s stock, valued at approximately $614,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Renaissance Technologies LLC bought a new position in Abacus Life in the second quarter valued at approximately $106,000. Levin Capital Strategies L.P. acquired a new position in Abacus Life during the second quarter worth $130,000. Quarry LP bought a new stake in Abacus Life during the second quarter worth $318,000. Richard W. Paul & Associates LLC lifted its stake in Abacus Life by 27.8% in the third quarter. Richard W. Paul & Associates LLC now owns 38,902 shares of the company’s stock valued at $394,000 after acquiring an additional 8,454 shares during the last quarter. Finally, Sei Investments Co. bought a new position in shares of Abacus Life in the 2nd quarter valued at about $418,000.

Abacus Life Stock Performance

NASDAQ:ABL opened at $7.55 on Thursday. The stock has a 50 day simple moving average of $8.59 and a 200 day simple moving average of $9.39. The stock has a market cap of $639.33 million, a P/E ratio of -41.94 and a beta of 0.13. Abacus Life, Inc. has a 1-year low of $7.07 and a 1-year high of $13.25. 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 posted its earnings results on Thursday, November 7th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. The company had revenue of $28.15 million during the quarter, compared to the consensus estimate of $26.08 million. During the same quarter last year, the firm earned $0.01 earnings per share. Research analysts anticipate that Abacus Life, Inc. will post 0.64 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ABL. Northland Securities started coverage on shares of Abacus Life in a report on Thursday, October 24th. They issued an “outperform” rating and a $13.50 target price on the stock. B. Riley lifted their target price on Abacus Life from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Piper Sandler restated an “overweight” rating and issued a $13.00 price target (up previously from $12.00) on shares of Abacus Life in a research note on Friday, November 8th. Northland Capmk raised shares of Abacus Life to a “strong-buy” rating in a research report on Thursday, October 24th. Finally, B. Riley Financial reissued a “buy” rating and issued a $16.00 price objective on shares of Abacus Life in a research report on Friday, August 30th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $14.70.

Insiders Place Their Bets

In other Abacus Life news, CEO Jay J. Jackson sold 2,031,250 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $8.00, for a total transaction of $16,250,000.00. Following the sale, the chief executive officer now directly owns 10,562,000 shares in the company, valued at $84,496,000. This represents a 16.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Adam Samuel Gusky bought 6,000 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was purchased at an average cost of $7.94 per share, for a total transaction of $47,640.00. Following the completion of the acquisition, the director now owns 49,085 shares in the company, valued at approximately $389,734.90. This trade represents a 13.93 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 36,367 shares of company stock worth $279,626 in the last quarter. 79.20% of the stock is currently owned by corporate insiders.

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.