Abacus Life, Inc. (NASDAQ:ABL) Director Purchases $16,859.18 in Stock

Abacus Life, Inc. (NASDAQ:ABL) Director Adam Samuel Gusky bought 2,126 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was purchased at an average price of $7.93 per share, with a total value of $16,859.18. Following the purchase, the director now directly owns 43,085 shares of the company’s stock, valued at $341,664.05. The trade was a 5.19 % increase in their position. The transaction 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 Monday, December 9th, Adam Samuel Gusky purchased 6,000 shares of Abacus Life stock. The stock was bought at an average cost of $7.94 per share, with a total value of $47,640.00.
• On Friday, November 22nd, Adam Samuel Gusky acquired 18,241 shares of Abacus Life stock. The stock was purchased at an average price of $7.54 per share, with a total value of $137,537.14.

Abacus Life Price Performance

Shares of NASDAQ ABL traded up $0.21 during midday trading on Tuesday, reaching $8.03. The company’s stock had a trading volume of 475,243 shares, compared to its average volume of 87,100. 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 company has a market cap of $679.98 million, a P/E ratio of -43.44 and a beta of 0.13. The business’s 50 day moving average price is $8.80 and its two-hundred day moving average price is $9.53. Abacus Life, Inc. has a fifty-two week low of $6.56 and a fifty-two week high of $13.25.

Abacus Life (NASDAQ:ABL) last announced its quarterly earnings data 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 the consensus estimate of $26.08 million. Abacus Life had a negative net margin of 11.65% and a positive return on equity of 12.88%. During the same period in the prior year, the company posted $0.01 earnings per share. On average, analysts forecast that Abacus Life, Inc. will post 0.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ABL. Renaissance Technologies LLC acquired a new stake in Abacus Life during the 2nd quarter valued at approximately $106,000. Levin Capital Strategies L.P. acquired a new stake in shares of Abacus Life during the second quarter worth $130,000. Richard W. Paul & Associates LLC raised its stake in Abacus Life by 4.8% during 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 acquired a new position in Abacus Life in the second quarter valued at $318,000. Finally, Sei Investments Co. bought a new stake in Abacus Life during the second quarter valued at $418,000.

Analyst Upgrades and Downgrades

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

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.