Insider Buying: Abacus Life, Inc. (NASDAQ:ABL) Director Buys $16,859.18 in Stock

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

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

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

Abacus Life Stock Down 0.4 %

Shares of ABL opened at $7.89 on Friday. The firm has a fifty day moving average price of $8.70 and a 200 day moving average price of $9.49. Abacus Life, Inc. has a 1-year low of $7.07 and a 1-year high of $13.25. 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 (NASDAQ:ABL) last posted 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 business had revenue of $28.15 million during the quarter, compared to the consensus estimate 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 previous year, the business earned $0.01 EPS. Research analysts anticipate that Abacus Life, Inc. will post 0.64 EPS for the current fiscal year.

Institutional Trading of Abacus Life

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

Wall Street Analyst Weigh In

Several research analysts have commented on ABL shares. Northland Securities began coverage on shares of Abacus Life in a report on Thursday, October 24th. They set an “outperform” rating and a $13.50 price target for the company. Piper Sandler reiterated an “overweight” rating and set a $13.00 target price (up previously from $12.00) on shares of Abacus Life in a research note on Friday, November 8th. B. Riley Financial restated a “buy” rating and issued a $16.00 price target on shares of Abacus Life in a research note on Friday, August 30th. Northland Capmk raised Abacus Life to a “strong-buy” rating in a research report on Thursday, October 24th. Finally, B. Riley increased their price objective on Abacus Life from $16.00 to $17.00 and gave the company a “buy” rating in a report on Monday, November 25th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Abacus Life presently has a consensus rating of “Buy” and an average 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.