Insider Buying: Abacus Life, Inc. (NASDAQ:ABL) Director Buys 7,000 Shares of Stock

Abacus Life, Inc. (NASDAQ:ABL) Director Adam Samuel Gusky bought 7,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were purchased at an average cost of $7.72 per share, with a total value of $54,040.00. Following the purchase, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

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

Abacus Life Stock Down 1.0 %

ABL stock traded down $0.08 during mid-day trading on Monday, hitting $7.86. The stock had a trading volume of 266,932 shares, compared to its average volume of 89,988. The stock has a market capitalization of $665.58 million, a price-to-earnings ratio of -44.11 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, Inc. has a 1-year low of $7.07 and a 1-year high of $13.25. The company has a fifty day moving average of $8.67 and a 200 day moving average of $9.43.

Abacus Life (NASDAQ:ABL) last posted its earnings results on Thursday, November 7th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. The firm had revenue of $28.15 million during the quarter, compared to analysts’ expectations 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 company earned $0.01 earnings per share. On average, equities analysts expect that Abacus Life, Inc. will post 0.64 EPS for the current fiscal year.

Institutional Trading of Abacus Life

Large investors have recently made changes to their positions in the stock. Richard W. Paul & Associates LLC boosted its position in Abacus Life by 4.8% during the second quarter. Richard W. Paul & Associates LLC now owns 30,448 shares of the company’s stock worth $263,000 after purchasing an additional 1,401 shares during the period. Allspring Global Investments Holdings LLC bought a new position in Abacus Life in the 2nd quarter worth approximately $9,909,000. Principal Financial Group Inc. acquired a new position in shares of Abacus Life during the second quarter worth approximately $8,105,000. Stieven Capital Advisors L.P. bought a new stake in shares of Abacus Life in the second quarter valued at approximately $2,811,000. Finally, Levin Capital Strategies L.P. acquired a new stake in shares of Abacus Life in the second quarter worth $130,000.

Analyst Upgrades and Downgrades

ABL has been the subject of several research analyst reports. Northland Capmk upgraded shares of Abacus Life to a “strong-buy” rating in a research report on Thursday, October 24th. B. Riley Financial reaffirmed a “buy” rating and issued a $16.00 target price on shares of Abacus Life in a research report on Friday, August 30th. Northland Securities started coverage on Abacus Life in a research report on Thursday, October 24th. They set an “outperform” rating and a $13.50 price target on the stock. Piper Sandler restated an “overweight” rating and set a $13.00 price objective (up from $12.00) on shares of Abacus Life in a research report on Friday, November 8th. Finally, B. Riley upped their target price on Abacus Life from $16.00 to $17.00 and gave the company a “buy” rating in a report on Monday, November 25th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target 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.