Allspring Global Investments Holdings LLC Has $10.18 Million Position in Abacus Life, Inc. (NASDAQ:ABL)

Allspring Global Investments Holdings LLC lowered its holdings in shares of Abacus Life, Inc. (NASDAQ:ABL) by 0.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,388,348 shares of the company’s stock after selling 10,856 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Abacus Life were worth $10,177,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Millennium Management LLC raised its holdings in shares of Abacus Life by 1,629.1% during the 4th quarter. Millennium Management LLC now owns 192,019 shares of the company’s stock valued at $1,504,000 after purchasing an additional 180,914 shares in the last quarter. Two Sigma Investments LP bought a new position in shares of Abacus Life during the 4th quarter valued at $617,000. Jane Street Group LLC bought a new position in shares of Abacus Life during the 4th quarter valued at $282,000. Royce & Associates LP raised its holdings in shares of Abacus Life by 339.9% during the 4th quarter. Royce & Associates LP now owns 1,306,431 shares of the company’s stock valued at $10,229,000 after purchasing an additional 1,009,431 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Abacus Life by 356.0% during the 4th quarter. Renaissance Technologies LLC now owns 210,500 shares of the company’s stock valued at $1,648,000 after purchasing an additional 164,334 shares in the last quarter.

Abacus Life Stock Performance

Shares of ABL opened at $5.36 on Friday. The company has a market capitalization of $519.02 million and a PE ratio of -23.30. Abacus Life, Inc. has a one year low of $4.60 and a one year high of $11.86. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.47 and a quick ratio of 0.47. The company’s fifty day moving average price is $7.14 and its 200 day moving average price is $7.45.

Abacus Life (NASDAQ:ABL) last announced its earnings results on Thursday, May 8th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. The firm 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 13.35% and a positive return on equity of 16.76%. As a group, analysts expect that Abacus Life, Inc. will post 0.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on ABL shares. Maxim Group began coverage on shares of Abacus Life in a report on Tuesday, April 29th. They set a “buy” rating and a $14.00 price target on the stock. Piper Sandler dropped their target price on shares of Abacus Life from $12.00 to $10.00 and set an “overweight” rating on the stock in a report on Wednesday. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Abacus Life has a consensus rating of “Buy” and a consensus price target of $13.75.

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.