Adam Samuel Gusky Acquires 2,126 Shares of Abacus Life, Inc. (NASDAQ:ABL) Stock

Abacus Life, Inc. (NASDAQ:ABL) Director Adam Samuel Gusky acquired 2,126 shares of the firm’s stock in a transaction on Friday, December 6th. The shares were bought at an average cost of $7.93 per share, with a total value of $16,859.18. Following the completion of the acquisition, the director now owns 43,085 shares in the company, valued at $341,664.05. This represents a 5.19 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

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

Abacus Life Stock Up 2.7 %

ABL stock traded up $0.21 during midday trading on Tuesday, reaching $8.03. The company had a trading volume of 475,243 shares, compared to its average volume of 87,100. The company has a 50 day moving average of $8.80 and a two-hundred day moving average of $9.53. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.65. Abacus Life, Inc. has a 1 year low of $6.56 and a 1 year high of $13.25. The company has a market capitalization of $679.98 million, a P/E ratio of -43.44 and a beta of 0.13.

Abacus Life (NASDAQ:ABL) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.20 EPS for the quarter, topping 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 firm had revenue of $28.15 million for the quarter, compared to the consensus estimate of $26.08 million. During the same quarter in the prior year, the company posted $0.01 earnings per share. On average, equities research analysts expect that Abacus Life, Inc. will post 0.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ABL shares. Northland Securities began coverage on shares of Abacus Life in a report on Thursday, October 24th. They issued an “outperform” rating and a $13.50 target price on the stock. B. Riley Financial reissued a “buy” rating and issued a $16.00 price target on shares of Abacus Life in a report on Friday, August 30th. Piper Sandler restated 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. Northland Capmk upgraded Abacus Life to a “strong-buy” rating in a research note on Thursday, October 24th. Finally, B. Riley upped their price target on shares of Abacus Life from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $14.70.

Institutional Trading of Abacus Life

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

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.