Stieven Capital Advisors L.P. Grows Stock Position in Abacus Life, Inc. (NASDAQ:ABL)

Stieven Capital Advisors L.P. boosted its position in shares of Abacus Life, Inc. (NASDAQ:ABL) by 128.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 741,810 shares of the company’s stock after buying an additional 416,800 shares during the quarter. Stieven Capital Advisors L.P.’s holdings in Abacus Life were worth $5,808,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of ABL. Geneos Wealth Management Inc. purchased a new position in shares of Abacus Life during the 4th quarter worth about $110,000. Richard W. Paul & Associates LLC boosted its position in shares of Abacus Life by 27.8% during the third quarter. Richard W. Paul & Associates LLC now owns 38,902 shares of the company’s stock valued at $394,000 after buying an additional 8,454 shares during the period. Charles Schwab Investment Management Inc. bought a new position in shares of Abacus Life during the third quarter valued at approximately $614,000. Evernest Financial Advisors LLC purchased a new stake in shares of Abacus Life in the third quarter worth approximately $681,000. Finally, Geode Capital Management LLC lifted its stake in shares of Abacus Life by 439.6% during the 3rd quarter. Geode Capital Management LLC now owns 171,917 shares of the company’s stock worth $1,741,000 after acquiring an additional 140,054 shares during the last quarter.

Analysts Set New Price Targets

Several equities analysts have commented on ABL shares. Northland Securities assumed coverage on Abacus Life in a research report on Thursday, October 24th. They issued an “outperform” rating and a $13.50 price objective on the stock. B. Riley reduced their price target on shares of Abacus Life from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Northland Capmk raised shares of Abacus Life to a “strong-buy” rating in a research report on Thursday, October 24th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $13.00 target price (up from $12.00) on shares of Abacus Life in a research report on Friday, November 8th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Abacus Life currently has an average rating of “Buy” and an average target price of $14.30.

Abacus Life Stock Down 1.3 %

Shares of Abacus Life stock opened at $7.67 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market cap of $741.23 million, a price-to-earnings ratio of -42.61 and a beta of 0.14. The firm’s 50-day moving average is $7.68 and its two-hundred day moving average is $8.83. Abacus Life, Inc. has a 1 year low of $6.75 and a 1 year high of $12.65.

Insider Activity

In other news, insider Sean Mcnealy sold 75,800 shares of Abacus Life stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $8.00, for a total value of $606,400.00. Following the transaction, the insider now owns 12,361,500 shares of the company’s stock, valued at $98,892,000. The trade was a 0.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Matthew Ganovsky sold 156,250 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $8.00, for a total transaction of $1,250,000.00. Following the sale, the insider now directly owns 10,847,047 shares of the company’s stock, valued at $86,776,376. The trade was a 1.42 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 36,367 shares of company stock worth $279,626 and have sold 2,263,300 shares worth $18,106,400. Insiders own 79.20% of the company’s stock.

About Abacus Life

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.