Insider Selling: Abacus Life, Inc. (NASDAQ:ABL) Insider Sells 75,800 Shares of Stock

Abacus Life, Inc. (NASDAQ:ABL - Get Free Report) insider Sean Mcnealy sold 75,800 shares of Abacus Life stock in a transaction on Friday, December 20th. The shares were sold at an average price of $8.00, for a total transaction of $606,400.00. Following the completion of the sale, the insider now owns 12,361,500 shares in the company, valued at approximately $98,892,000. This trade represents a 0.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Abacus Life Stock Up 1.0 %

Shares of Abacus Life stock traded up $0.08 during midday trading on Monday, hitting $7.80. The company had a trading volume of 178,722 shares, compared to its average volume of 94,269. Abacus Life, Inc. has a 52-week low of $7.07 and a 52-week high of $13.25. 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 stock has a market capitalization of $660.50 million, a P/E ratio of -43.33 and a beta of 0.13. The company has a 50 day moving average of $8.41 and a 200 day moving average of $9.29.

Abacus Life (NASDAQ:ABL - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported $0.20 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 analysts' expectations 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 firm posted $0.01 earnings per share. On average, equities analysts predict that Abacus Life, Inc. will post 0.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ABL. Allspring Global Investments Holdings LLC purchased a new position in shares of Abacus Life in the second quarter worth $9,909,000. Principal Financial Group Inc. purchased a new position in Abacus Life in the 2nd quarter worth about $8,105,000. Point72 Asset Management L.P. bought a new position in Abacus Life during the 2nd quarter valued at about $5,190,000. Mendon Capital Advisors Corp purchased a new stake in shares of Abacus Life during the 2nd quarter valued at about $4,974,000. Finally, Clearbridge Investments LLC purchased a new stake in shares of Abacus Life during the 2nd quarter valued at about $4,342,000.

Analyst Ratings Changes

ABL has been the subject of a number of research reports. B. Riley increased their price target on shares of Abacus Life from $16.00 to $17.00 and gave the stock a "buy" rating in a research note on Monday, November 25th. B. Riley Financial restated a "buy" rating and issued a $16.00 target price on shares of Abacus Life in a research note on Friday, August 30th. Piper Sandler restated an "overweight" rating and set a $13.00 price target (up from $12.00) on shares of Abacus Life in a research report on Friday, November 8th. Northland Securities assumed coverage on Abacus Life in a report on Thursday, October 24th. They issued an "outperform" rating and a $13.50 price objective for the company. Finally, Northland Capmk upgraded shares of Abacus Life to a "strong-buy" rating in a report 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 stock. According to MarketBeat, Abacus Life presently has an average rating of "Buy" and a consensus 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.