Abacus Life, Inc. (NASDAQ:ABL) Director Adam Samuel Gusky Buys 3,000 Shares

Abacus Life, Inc. (NASDAQ:ABL) Director Adam Samuel Gusky bought 3,000 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was bought at an average cost of $7.85 per share, with a total value of $23,550.00. Following the completion of the transaction, the director now owns 52,085 shares in the company, valued at approximately $408,867.25. This trade represents a 6.11 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Adam Samuel Gusky also recently made the following trade(s):

• On Monday, December 16th, Adam Samuel Gusky purchased 7,000 shares of Abacus Life stock. The stock was bought at an average cost of $7.72 per share, with a total value of $54,040.00.
• On Monday, December 9th, Adam Samuel Gusky acquired 6,000 shares of Abacus Life stock. The shares were purchased at an average cost of $7.94 per share, for a total transaction of $47,640.00.
• On Friday, December 6th, Adam Samuel Gusky bought 2,126 shares of Abacus Life stock. The stock was purchased at an average price of $7.93 per share, with a total value of $16,859.18.
• On Friday, November 22nd, Adam Samuel Gusky purchased 18,241 shares of Abacus Life stock. The stock was purchased at an average cost of $7.54 per share, for a total transaction of $137,537.14.

Abacus Life Trading Down 1.9 %

NASDAQ:ABL opened at $7.55 on Thursday. The stock has a market cap of $639.33 million, a price-to-earnings ratio of -41.94 and a beta of 0.13. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.65. The company’s 50 day moving average price is $8.59 and its 200-day moving average price is $9.39. Abacus Life, Inc. has a 52 week low of $7.07 and a 52 week high of $13.25.

Abacus Life (NASDAQ:ABL) last issued its earnings results on Thursday, November 7th. The company reported $0.20 EPS for the quarter, beating the consensus estimate 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 business had revenue of $28.15 million for the quarter, compared to the consensus estimate of $26.08 million. During the same period last year, the business posted $0.01 EPS. On average, equities research analysts forecast that Abacus Life, Inc. will post 0.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Abacus Life

Hedge funds have recently bought and sold shares of the business. Evernest Financial Advisors LLC purchased a new stake in shares of Abacus Life during the 3rd quarter valued at about $681,000. Principal Financial Group Inc. lifted its position in Abacus Life by 7.9% during the third quarter. Principal Financial Group Inc. now owns 1,011,143 shares of the company’s stock valued at $10,233,000 after purchasing an additional 74,172 shares during the period. Royce & Associates LP boosted its holdings in Abacus Life by 35.0% in the third quarter. Royce & Associates LP now owns 297,000 shares of the company’s stock worth $3,006,000 after purchasing an additional 77,000 shares during the last quarter. Mendon Capital Advisors Corp bought a new stake in Abacus Life in the 2nd quarter worth approximately $4,974,000. Finally, Clearbridge Investments LLC bought a new position in shares of Abacus Life during the 2nd quarter valued at $4,342,000.

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.