Adam Samuel Gusky Acquires 18,241 Shares of Abacus Life, Inc. (NASDAQ:ABL) Stock

Abacus Life, Inc. (NASDAQ:ABL) Director Adam Samuel Gusky purchased 18,241 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was bought at an average price of $7.54 per share, for a total transaction of $137,537.14. Following the completion of the acquisition, the director now directly owns 40,959 shares in the company, valued at approximately $308,830.86. This trade represents a 80.29 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Abacus Life Stock Performance

ABL stock traded up $0.15 during trading on Wednesday, reaching $7.82. The company had a trading volume of 678,148 shares, compared to its average volume of 217,052. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.29 and a current ratio of 1.29. Abacus Life, Inc. has a twelve month low of $6.56 and a twelve month high of $13.25. The company has a market cap of $583.76 million, a price-to-earnings ratio of -43.44 and a beta of 0.15. The firm has a 50-day simple moving average of $9.22 and a 200-day simple moving average of $9.75.

Abacus Life (NASDAQ:ABL) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.20 EPS for the quarter, topping 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 period in the previous year, the firm posted $0.01 earnings per share. 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

ABL has been the topic of a number of recent research reports. Piper Sandler reaffirmed an “overweight” rating and set a $13.00 price objective (up previously from $12.00) on shares of Abacus Life in a research report on Friday, November 8th. Northland Securities assumed coverage on shares of Abacus Life in a research report on Thursday, October 24th. They issued an “outperform” rating and a $13.50 price objective on the stock. TD Cowen began coverage on shares of Abacus Life in a research report on Wednesday, August 7th. They set a “buy” rating and a $14.00 target price for the company. Northland Capmk upgraded shares of Abacus Life to a “strong-buy” rating in a research note on Thursday, October 24th. Finally, B. Riley Financial reaffirmed a “buy” rating and set a $16.00 price target on shares of Abacus Life in a research report on Friday, August 30th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $14.70.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Evernest Financial Advisors LLC acquired a new stake in shares of Abacus Life in the third quarter worth $681,000. Principal Financial Group Inc. grew its position in Abacus Life by 7.9% during the 3rd quarter. Principal Financial Group Inc. now owns 1,011,143 shares of the company’s stock worth $10,233,000 after purchasing an additional 74,172 shares during the period. Mendon Capital Advisors Corp purchased a new position in shares of Abacus Life during the 2nd quarter valued at about $4,974,000. Clearbridge Investments LLC acquired a new position in shares of Abacus Life in the 2nd quarter valued at about $4,342,000. Finally, Royce & Associates LP boosted its stake in shares of Abacus Life by 35.0% in the third quarter. Royce & Associates LP now owns 297,000 shares of the company’s stock worth $3,006,000 after buying an additional 77,000 shares during the last quarter.

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.