Abacus Life, Inc. (NASDAQ:ABL) Director Buys $47,640.00 in Stock

Abacus Life, Inc. (NASDAQ:ABL) Director Adam Samuel Gusky bought 6,000 shares of Abacus Life stock in a transaction dated Monday, December 9th. The stock was purchased at an average price of $7.94 per share, with a total value of $47,640.00. Following the completion of the purchase, the director now owns 49,085 shares in the company, valued at $389,734.90. This trade represents a 13.93 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Friday, December 6th, Adam Samuel Gusky purchased 2,126 shares of Abacus Life stock. The stock was purchased at an average price of $7.93 per share, for a total transaction of $16,859.18.
• On Friday, November 22nd, Adam Samuel Gusky acquired 18,241 shares of Abacus Life stock. The shares were purchased at an average price of $7.54 per share, with a total value of $137,537.14.

Abacus Life Stock Up 2.7 %

Abacus Life stock traded up $0.21 during midday trading on Tuesday, hitting $8.03. 475,243 shares of the stock were exchanged, compared to its average volume of 87,100. 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 stock has a market capitalization of $679.98 million, a price-to-earnings ratio of -43.44 and a beta of 0.13. Abacus Life, Inc. has a 52-week low of $6.56 and a 52-week high of $13.25. The business’s 50-day moving average price is $8.80 and its 200-day moving average price is $9.53.

Abacus Life (NASDAQ:ABL) last released its earnings results on Thursday, November 7th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.06. The company had revenue of $28.15 million during 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 prior year, the company posted $0.01 earnings per share. On average, research analysts expect that Abacus Life, Inc. will post 0.64 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. B. Riley Financial restated a “buy” rating and set a $16.00 price target on shares of Abacus Life in a research note on Friday, August 30th. Piper Sandler reissued 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. Northland Securities started coverage on shares of Abacus Life in a research report on Thursday, October 24th. They issued an “outperform” rating and a $13.50 price target on the stock. B. Riley boosted their price objective on Abacus Life from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, Northland Capmk raised Abacus Life to a “strong-buy” rating in a research note on Thursday, October 24th. 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, the company currently has an average rating of “Buy” and an average price target of $14.70.

Institutional Investors Weigh In On Abacus Life

Large investors have recently made changes to their positions in the business. Renaissance Technologies LLC bought a new position in Abacus Life during the second quarter valued at about $106,000. Levin Capital Strategies L.P. purchased a new stake in Abacus Life in the second quarter worth $130,000. Richard W. Paul & Associates LLC increased its position in Abacus Life by 4.8% in the second quarter. Richard W. Paul & Associates LLC now owns 30,448 shares of the company’s stock worth $263,000 after buying an additional 1,401 shares during the last quarter. Quarry LP bought a new stake in shares of Abacus Life in the second quarter valued at $318,000. Finally, Sei Investments Co. purchased a new position in shares of Abacus Life during the 2nd quarter valued at $418,000.

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.