Abacus Life, Inc. (NASDAQ:ABL) Insider Sells $606,400.00 in Stock

Abacus Life, Inc. (NASDAQ:ABL) insider Sean Mcnealy sold 75,800 shares of Abacus Life stock in a transaction that occurred 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 transaction, the insider now owns 12,361,500 shares of the company’s stock, valued at $98,892,000. This represents a 0.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Abacus Life Trading Down 3.3 %

Shares of ABL opened at $7.54 on Thursday. Abacus Life, Inc. has a 1-year low of $7.07 and a 1-year high of $13.25. The company has a market capitalization of $638.48 million, a P/E ratio of -41.89 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. The firm’s 50 day simple moving average is $8.32 and its 200 day simple moving average is $9.26.

Abacus Life (NASDAQ:ABL) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate 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 negative net margin of 11.65% and a positive return on equity of 12.88%. During the same quarter last year, the company posted $0.01 EPS. Sell-side analysts forecast that Abacus Life, Inc. will post 0.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ABL has been the topic of a number of analyst reports. B. Riley boosted their price objective on Abacus Life from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Monday, November 25th. 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 set a $16.00 price objective on shares of Abacus Life in a research note on Friday, August 30th. Northland Securities initiated coverage on shares of Abacus Life in a research note on Thursday, October 24th. They issued an “outperform” rating and a $13.50 target price on the stock. Finally, Northland Capmk upgraded shares of Abacus Life to a “strong-buy” rating in a research report on Thursday, October 24th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $14.70.

Institutional Investors Weigh In On Abacus Life

A number of institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC bought a new stake in Abacus Life in the second quarter worth $9,909,000. Principal Financial Group Inc. purchased a new position in shares of Abacus Life in the second quarter worth about $8,105,000. Stieven Capital Advisors L.P. bought a new stake in shares of Abacus Life in the 2nd quarter valued at about $2,811,000. Levin Capital Strategies L.P. purchased a new stake in Abacus Life during the 2nd quarter valued at about $130,000. Finally, Renaissance Technologies LLC bought a new position in Abacus Life during the 2nd quarter worth approximately $106,000.

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.