Insider Buying: Abacus Life, Inc. (NASDAQ:ABL) Director Buys $23,550.00 in Stock

Abacus Life, Inc. (NASDAQ:ABL) Director Adam Samuel Gusky bought 3,000 shares of the business’s stock in a transaction on Friday, December 13th. The stock was bought at an average price of $7.85 per share, with a total value of $23,550.00. Following the purchase, the director now owns 52,085 shares in the company, valued at $408,867.25. This trade represents a 6.11 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, December 16th, Adam Samuel Gusky purchased 7,000 shares of Abacus Life stock. The stock was purchased at an average cost of $7.72 per share, for a total transaction of $54,040.00.
• On Monday, December 9th, Adam Samuel Gusky acquired 6,000 shares of Abacus Life stock. The shares were 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 purchased 2,126 shares of Abacus Life stock. The shares were purchased 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 stock was acquired at an average price of $7.54 per share, for a total transaction of $137,537.14.

Abacus Life Stock Performance

Abacus Life stock opened at $7.55 on Thursday. The firm has a fifty day simple moving average of $8.59 and a two-hundred day simple moving average of $9.39. Abacus Life, Inc. has a twelve month low of $7.07 and a twelve month high of $13.25. The company has a market capitalization of $639.33 million, a PE ratio of -41.94 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.

Abacus Life (NASDAQ:ABL) last issued its earnings results 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 company had revenue of $28.15 million during the quarter, compared to analysts’ expectations of $26.08 million. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. During the same period in the prior year, the business posted $0.01 EPS. Research analysts expect that Abacus Life, Inc. will post 0.64 EPS for the current year.

Wall Street Analysts Forecast Growth

ABL has been the subject of several recent analyst reports. Northland Capmk upgraded Abacus Life to a “strong-buy” rating in a research report on Thursday, October 24th. B. Riley Financial restated a “buy” rating and issued a $16.00 price objective on shares of Abacus Life in a research report on Friday, August 30th. Northland Securities started coverage on shares of Abacus Life in a research report on Thursday, October 24th. They set an “outperform” rating and a $13.50 target price for the company. B. Riley increased their price target on shares of Abacus Life from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $13.00 price objective (up from $12.00) on shares of Abacus Life in a report on Friday, November 8th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Abacus Life currently has an average rating of “Buy” and an average price target of $14.70.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ABL. Allspring Global Investments Holdings LLC purchased a new stake in Abacus Life during the 2nd quarter valued at $9,909,000. Principal Financial Group Inc. purchased a new stake in shares of Abacus Life during the second quarter worth about $8,105,000. Point72 Asset Management L.P. bought a new stake in shares of Abacus Life in the second quarter worth about $5,190,000. Mendon Capital Advisors Corp purchased a new position in Abacus Life during the 2nd quarter valued at about $4,974,000. Finally, Clearbridge Investments LLC purchased a new position in Abacus Life during the 2nd quarter valued at about $4,342,000.

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.