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

Abacus Life, Inc. (NASDAQ:ABL) Director Adam Samuel Gusky purchased 7,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was bought at an average price of $7.72 per share, for a total transaction of $54,040.00. Following the acquisition, the director now owns 59,085 shares in the company, valued at $456,136.20. The trade was a 13.44 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

Abacus Life Price Performance

ABL opened at $7.70 on Wednesday. Abacus Life, Inc. has a twelve month low of $7.07 and a twelve month high of $13.25. The firm has a market cap of $652.03 million, a price-to-earnings ratio of -42.78 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. The company has a fifty day simple moving average of $8.63 and a 200 day simple moving average of $9.42.

Abacus Life (NASDAQ:ABL) last announced 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. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. The company had revenue of $28.15 million during the quarter, compared to the consensus estimate of $26.08 million. During the same period last year, the firm earned $0.01 earnings per share. Equities research analysts expect that Abacus Life, Inc. will post 0.64 EPS for the current fiscal year.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Abacus Life

A number of hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. raised its position in shares of Abacus Life by 3.6% in the 3rd quarter. Franklin Resources Inc. now owns 437,733 shares of the company’s stock valued at $4,382,000 after purchasing an additional 15,308 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Abacus Life by 439.6% in the third quarter. Geode Capital Management LLC now owns 171,917 shares of the company’s stock worth $1,741,000 after buying an additional 140,054 shares during the last quarter. Charles Schwab Investment Management Inc. acquired a new stake in Abacus Life in the third quarter valued at $614,000. Royce & Associates LP boosted its stake in Abacus Life by 35.0% during the 3rd quarter. Royce & Associates LP now owns 297,000 shares of the company’s stock valued at $3,006,000 after acquiring an additional 77,000 shares during the last quarter. Finally, Curi RMB Capital LLC grew its holdings in Abacus Life by 2.4% during the 3rd quarter. Curi RMB Capital LLC now owns 550,000 shares of the company’s stock worth $5,566,000 after acquiring an additional 12,765 shares in the last quarter.

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.