Adam Samuel Gusky Acquires 18,241 Shares of Abacus Life, Inc. (NASDAQ:ABL) Stock

Abacus Life, Inc. (NASDAQ:ABL) Director Adam Samuel Gusky purchased 18,241 shares of the stock in a transaction dated Friday, November 22nd. The stock was purchased at an average price of $7.54 per share, with a total value of $137,537.14. Following the completion of the acquisition, the director now directly owns 40,959 shares in the company, valued at approximately $308,830.86. The trade was a 80.29 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Abacus Life Stock Up 3.3 %

Shares of Abacus Life stock opened at $8.08 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.29. Abacus Life, Inc. has a 1-year low of $6.56 and a 1-year high of $13.25. The business’s fifty day moving average price is $9.17 and its two-hundred day moving average price is $9.74. The company has a market capitalization of $603.17 million, a P/E ratio of -44.89 and a beta of 0.15.

Abacus Life (NASDAQ:ABL) last announced its earnings results on Thursday, November 7th. The company reported $0.20 EPS for the quarter, topping 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 firm had revenue of $28.15 million for the quarter, compared to analysts’ expectations of $26.08 million. During the same quarter in the previous year, the company earned $0.01 earnings per share. As a group, research analysts forecast that Abacus Life, Inc. will post 0.64 EPS for the current year.

Hedge Funds Weigh In On Abacus Life

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

Analyst Upgrades and Downgrades

ABL has been the topic of a number of recent research reports. B. Riley Financial restated a “buy” rating and issued a $16.00 price target on shares of Abacus Life in a research report on Friday, August 30th. TD Cowen began coverage on Abacus Life in a research note on Wednesday, August 7th. They issued a “buy” rating and a $14.00 target price for the company. Northland Capmk raised Abacus Life to a “strong-buy” rating in a report on Thursday, October 24th. Northland Securities initiated coverage on Abacus Life in a report on Thursday, October 24th. They issued an “outperform” rating and a $13.50 price target on the stock. Finally, B. Riley upped their price objective on Abacus Life from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday. 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. According to data from MarketBeat.com, the company 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.