Abacus Life, Inc. (NASDAQ:ABL) Director Purchases $137,537.14 in Stock

Abacus Life, Inc. (NASDAQ:ABL) Director Adam Samuel Gusky bought 18,241 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were purchased at an average price of $7.54 per share, with a total value of $137,537.14. Following 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Abacus Life Trading Up 1.2 %

NASDAQ:ABL opened at $8.18 on Friday. The stock has a market cap of $692.68 million, a price-to-earnings ratio of -44.89 and a beta of 0.15. Abacus Life, Inc. has a one year low of $6.56 and a one year high of $13.25. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.29 and a current ratio of 1.29. The business’s 50-day simple moving average is $9.14 and its 200 day simple moving average is $9.73.

Abacus Life (NASDAQ:ABL) last announced its 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 positive return on equity of 12.88% and a negative net margin of 11.65%. The company had revenue of $28.15 million for the quarter, compared to analyst estimates of $26.08 million. During the same period in the prior year, the company posted $0.01 EPS. As a group, sell-side analysts predict that Abacus Life, Inc. will post 0.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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

Analyst Ratings Changes

ABL has been the subject of several research reports. Piper Sandler reiterated an “overweight” rating and set a $13.00 price objective (up from $12.00) on shares of Abacus Life in a research note on Friday, November 8th. B. Riley Financial reiterated a “buy” rating and issued a $16.00 price target on shares of Abacus Life in a report on Friday, August 30th. TD Cowen assumed coverage on Abacus Life in a research note on Wednesday, August 7th. They set a “buy” rating and a $14.00 price objective on the stock. Northland Capmk upgraded Abacus Life to a “strong-buy” rating in a report on Thursday, October 24th. Finally, Northland Securities started coverage on Abacus Life in a research report on Thursday, October 24th. They set an “outperform” rating and a $13.50 price target on the stock. Five equities research analysts have rated the stock with a buy rating and one has given 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.