Abacus Life, Inc. (NASDAQ:ABL) Director Adam Samuel Gusky Purchases 7,000 Shares

Abacus Life, Inc. (NASDAQ:ABL) Director Adam Samuel Gusky acquired 7,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was acquired at an average cost of $7.72 per share, with a total value of $54,040.00. Following the completion of the purchase, the director now owns 59,085 shares of the company’s stock, valued at $456,136.20. This trade 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 can be accessed 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 stock was 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 acquired at an average price of $7.94 per share, for a total transaction of $47,640.00.
• On Friday, December 6th, Adam Samuel Gusky acquired 2,126 shares of Abacus Life stock. The stock was acquired at an average cost of $7.93 per share, with a total value of $16,859.18.
• On Friday, November 22nd, Adam Samuel Gusky bought 18,241 shares of Abacus Life stock. The shares were bought at an average cost of $7.54 per share, for a total transaction of $137,537.14.

Abacus Life Stock Performance

ABL opened at $7.86 on Tuesday. 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 quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.65. The firm’s 50-day moving average price is $8.63 and its 200-day moving average price is $9.42. Abacus Life, Inc. has a 52-week low of $7.07 and a 52-week high of $13.25.

Abacus Life (NASDAQ:ABL) last issued its quarterly 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. 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 for the quarter, compared to analyst estimates of $26.08 million. During the same quarter in the prior year, the business posted $0.01 EPS. As a group, equities analysts anticipate that Abacus Life, Inc. will post 0.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Abacus Life

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ABL. Renaissance Technologies LLC acquired a new position in shares of Abacus Life in the second quarter valued at about $106,000. Levin Capital Strategies L.P. purchased a new stake in Abacus Life in the second quarter valued at approximately $130,000. Richard W. Paul & Associates LLC increased its holdings in Abacus Life by 4.8% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 30,448 shares of the company’s stock worth $263,000 after buying an additional 1,401 shares during the period. Quarry LP purchased a new position in Abacus Life during the 2nd quarter worth approximately $318,000. Finally, Sei Investments Co. acquired a new stake in Abacus Life during the 2nd quarter valued at approximately $418,000.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ABL shares. Northland Securities began coverage on Abacus Life in a research note on Thursday, October 24th. They set an “outperform” rating and a $13.50 price objective for the company. Piper Sandler restated 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 boosted their price objective on shares of Abacus Life from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. 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 issued a $16.00 price target on shares of Abacus Life in a 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 company’s stock. Based on data from MarketBeat.com, Abacus Life presently has a consensus rating of “Buy” and a consensus 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.