Abacus Life, Inc. (NASDAQ:ABL) Director Adam Samuel Gusky Acquires 18,241 Shares

Abacus Life, Inc. (NASDAQ:ABL) Director Adam Samuel Gusky purchased 18,241 shares of Abacus Life stock in a transaction that occurred on Friday, November 22nd. The shares were bought at an average price of $7.54 per share, with a total value of $137,537.14. Following the completion of the transaction, the director now owns 40,959 shares of the company’s stock, valued at $308,830.86. This represents a 80.29 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Abacus Life Price Performance

Shares of NASDAQ:ABL traded up $0.15 during trading on Wednesday, reaching $7.82. The stock had a trading volume of 678,148 shares, compared to its average volume of 217,052. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.29 and a current ratio of 1.29. The business has a fifty day moving average price of $9.22 and a 200-day moving average price of $9.75. The stock has a market cap of $583.76 million, a PE ratio of -43.44 and a beta of 0.15. Abacus Life, Inc. has a 1-year low of $6.56 and a 1-year high of $13.25.

Abacus Life (NASDAQ:ABL) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. The firm had revenue of $28.15 million for the quarter, compared to analyst estimates of $26.08 million. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. During the same period in the previous year, the company posted $0.01 earnings per share. On average, equities analysts forecast that Abacus Life, Inc. will post 0.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. B. Riley lifted their price target on Abacus Life from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Monday. Northland Capmk upgraded Abacus Life to a “strong-buy” rating in a research report on Thursday, October 24th. Northland Securities started coverage on Abacus Life in a report on Thursday, October 24th. They issued an “outperform” rating and a $13.50 price objective on the stock. Piper Sandler reissued an “overweight” rating and issued a $13.00 price objective (up from $12.00) on shares of Abacus Life in a report on Friday, November 8th. Finally, TD Cowen started coverage on Abacus Life in a report on Wednesday, August 7th. They issued a “buy” rating and a $14.00 price objective on the stock. 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 stock has an average rating of “Buy” and a consensus price target of $14.70.

Institutional Trading of Abacus Life

A number of institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new position in Abacus Life during the second quarter worth $9,909,000. Principal Financial Group Inc. acquired a new position in Abacus Life during the second quarter worth $8,105,000. Point72 Asset Management L.P. acquired a new position in Abacus Life during the second quarter worth $5,190,000. Mendon Capital Advisors Corp acquired a new position in Abacus Life during the second quarter worth $4,974,000. Finally, Clearbridge Investments LLC acquired a new position in Abacus Life during the second quarter worth $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.