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

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

Abacus Life Stock Up 3.3 %

ABL stock opened at $8.08 on Thursday. 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 firm has a market capitalization of $603.17 million, a P/E ratio of -43.44 and a beta of 0.15. Abacus Life, Inc. has a 52-week low of $6.56 and a 52-week high of $13.25. The company’s 50 day simple moving average is $9.22 and its 200-day simple moving average is $9.75.

Abacus Life (NASDAQ:ABL) last announced 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 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 previous year, the business earned $0.01 EPS. As a group, equities research analysts anticipate that Abacus Life, Inc. will post 0.64 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Richard W. Paul & Associates LLC grew its stake in Abacus Life by 4.8% during the 2nd quarter. Richard W. Paul & Associates LLC now owns 30,448 shares of the company’s stock valued at $263,000 after acquiring an additional 1,401 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Abacus Life during the second quarter valued at approximately $9,909,000. Principal Financial Group Inc. purchased a new position in Abacus Life during the second quarter valued at approximately $8,105,000. Stieven Capital Advisors L.P. acquired a new position in Abacus Life in the 2nd quarter valued at approximately $2,811,000. Finally, Levin Capital Strategies L.P. acquired a new stake in shares of Abacus Life during the 2nd quarter valued at $130,000.

Analyst Upgrades and Downgrades

ABL has been the topic of several research reports. Northland Capmk upgraded shares of Abacus Life to a “strong-buy” rating in a research report on Thursday, October 24th. B. Riley boosted their target price on shares of Abacus Life from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Monday. 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 note 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. Finally, TD Cowen started coverage on Abacus Life in a research report on Wednesday, August 7th. They set a “buy” rating and a $14.00 price objective for the company. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $14.70.

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.