Abacus Life, Inc. (NASDAQ:ABL) Director Acquires $54,040.00 in Stock

Abacus Life, Inc. (NASDAQ:ABL - Get Free Report) Director Adam Samuel Gusky purchased 7,000 shares of the company's stock in a transaction dated Monday, December 16th. The stock was bought at an average price of $7.72 per share, with a total value of $54,040.00. Following the completion of the transaction, the director now directly owns 59,085 shares of the company's stock, valued at approximately $456,136.20. This represents a 13.44 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Friday, December 13th, Adam Samuel Gusky purchased 3,000 shares of Abacus Life stock. The shares were bought at an average price of $7.85 per share, for a total transaction of $23,550.00.
• On Monday, December 9th, Adam Samuel Gusky acquired 6,000 shares of Abacus Life stock. The stock was purchased at an average cost of $7.94 per share, with a total value of $47,640.00.
• On Friday, December 6th, Adam Samuel Gusky bought 2,126 shares of Abacus Life stock. The shares were purchased at an average cost of $7.93 per share, for a total transaction of $16,859.18.
• On Friday, November 22nd, Adam Samuel Gusky purchased 18,241 shares of Abacus Life stock. The stock was purchased at an average cost of $7.54 per share, with a total value of $137,537.14.

Abacus Life Trading Down 1.0 %

Shares of ABL stock traded down $0.08 on Monday, hitting $7.86. The stock had a trading volume of 266,932 shares, compared to its average volume of 90,004. The company's 50 day moving average price is $8.63 and its 200-day moving average price is $9.42. Abacus Life, Inc. has a 1 year low of $7.07 and a 1 year high of $13.25. The firm has a market capitalization of $665.58 million, a P/E ratio of -43.67 and a beta of 0.13. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.29.

Abacus Life (NASDAQ:ABL - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $28.15 million for the quarter, compared to analyst estimates 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 firm earned $0.01 earnings per share. Analysts anticipate that Abacus Life, Inc. will post 0.64 earnings per share for the current year.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Abacus Life

Institutional investors have recently modified their holdings of the business. Richard W. Paul & Associates LLC boosted its holdings in Abacus Life by 4.8% in the second quarter. Richard W. Paul & Associates LLC now owns 30,448 shares of the company's stock valued at $263,000 after purchasing an additional 1,401 shares during the period. Renaissance Technologies LLC acquired a new stake in Abacus Life in the 2nd quarter valued at about $106,000. Curi RMB Capital LLC boosted its stake in shares of Abacus Life by 2.4% in the 3rd quarter. Curi RMB Capital LLC now owns 550,000 shares of the company's stock valued at $5,566,000 after buying an additional 12,765 shares during the period. Levin Capital Strategies L.P. acquired a new position in shares of Abacus Life during the second quarter worth about $130,000. Finally, Franklin Resources Inc. increased its stake in shares of Abacus Life by 3.6% during the third quarter. Franklin Resources Inc. now owns 437,733 shares of the company's stock worth $4,382,000 after buying an additional 15,308 shares during the period.

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.