Abacus Life, Inc. (NASDAQ:ABL) Director Buys $137,537.14 in Stock

Abacus Life, Inc. (NASDAQ:ABL) Director Adam Samuel Gusky acquired 18,241 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was acquired 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 directly owns 40,959 shares in the company, valued at $308,830.86. This trade represents a 80.29 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Abacus Life Stock Performance

NASDAQ ABL opened at $8.08 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.65. The company has a fifty day simple moving average of $9.17 and a 200 day simple moving average of $9.74. Abacus Life, Inc. has a 12-month low of $6.56 and a 12-month high of $13.25. The company has a market cap of $603.17 million, a P/E ratio of -44.89 and a beta of 0.15.

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

Institutional Trading of Abacus Life

Several institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC bought a new stake in Abacus Life during the second quarter worth $106,000. Levin Capital Strategies L.P. purchased a new position in Abacus Life during the 2nd quarter worth $130,000. Richard W. Paul & Associates LLC boosted its holdings 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 worth $263,000 after acquiring an additional 1,401 shares during the last quarter. Quarry LP bought a new stake in shares of Abacus Life in the 2nd quarter worth $318,000. Finally, Sei Investments Co. purchased a new stake in shares of Abacus Life in the second quarter valued at about $418,000.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ABL. Piper Sandler reiterated an “overweight” rating and issued a $13.00 price target (up previously from $12.00) on shares of Abacus Life in a report on Friday, November 8th. Northland Capmk raised Abacus Life to a “strong-buy” rating in a research report on Thursday, October 24th. B. Riley Financial reiterated a “buy” rating and issued a $16.00 price target on shares of Abacus Life in a research note on Friday, August 30th. B. Riley lifted 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. Finally, Northland Securities assumed 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 for the company. 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.com, Abacus Life currently has a consensus rating of “Buy” and a consensus price target 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.