Insider Buying: Abacus Life, Inc. (NASDAQ:ABL) Director Buys 3,000 Shares of Stock

Abacus Life, Inc. (NASDAQ:ABL - Get Free Report) Director Adam Samuel Gusky bought 3,000 shares of the firm's stock in a transaction that occurred on Friday, December 13th. The stock was bought at an average price of $7.85 per share, with a total value of $23,550.00. Following the transaction, the director now directly owns 52,085 shares in the company, valued at $408,867.25. This represents a 6.11 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Monday, December 16th, Adam Samuel Gusky purchased 7,000 shares of Abacus Life stock. The stock was bought at an average cost of $7.72 per share, with a total value of $54,040.00.
• On Monday, December 9th, Adam Samuel Gusky acquired 6,000 shares of Abacus Life stock. The shares were bought at an average price of $7.94 per share, for a total transaction of $47,640.00.
• On Friday, December 6th, Adam Samuel Gusky bought 2,126 shares of Abacus Life stock. The stock was purchased at an average price of $7.93 per share, with a total value of $16,859.18.
• On Friday, November 22nd, Adam Samuel Gusky purchased 18,241 shares of Abacus Life stock. The shares were purchased at an average price of $7.54 per share, for a total transaction of $137,537.14.

Abacus Life Trading Down 1.0 %

ABL stock traded down $0.08 during mid-day trading on Monday, reaching $7.86. 266,932 shares of the stock traded hands, compared to its average volume of 90,004. Abacus Life, Inc. has a 52-week low of $7.07 and a 52-week high of $13.25. The stock's fifty day moving average is $8.63 and its 200-day moving average is $9.42. The company has a market cap of $665.58 million, a P/E ratio of -43.67 and a beta of 0.13. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.65.

Abacus Life (NASDAQ:ABL - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.20 EPS for the quarter, beating 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 business had revenue of $28.15 million during the quarter, compared to the consensus estimate of $26.08 million. During the same quarter in the prior year, the firm earned $0.01 EPS. As a group, sell-side analysts expect that Abacus Life, Inc. will post 0.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ABL shares. Northland Securities began 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. Piper Sandler reissued an "overweight" rating and issued a $13.00 price target (up from $12.00) on shares of Abacus Life in a report on Friday, November 8th. B. Riley Financial reaffirmed a "buy" rating and issued a $16.00 price objective on shares of Abacus Life in a research note on Friday, August 30th. Northland Capmk upgraded shares of Abacus Life to a "strong-buy" rating in a report on Thursday, October 24th. Finally, B. Riley raised 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, November 25th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $14.70.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. 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. boosted its stake in shares of Abacus Life by 7.9% during the 3rd quarter. Principal Financial Group Inc. now owns 1,011,143 shares of the company's stock valued at $10,233,000 after buying an additional 74,172 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Abacus Life during the 2nd quarter valued at $5,190,000. Curi RMB Capital LLC increased its stake in shares of Abacus Life by 2.4% in the third quarter. Curi RMB Capital LLC now owns 550,000 shares of the company's stock worth $5,566,000 after acquiring an additional 12,765 shares during the last quarter. Finally, Mendon Capital Advisors Corp purchased a new stake in shares of Abacus Life during the second quarter worth $4,974,000.

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.