Adam Samuel Gusky Purchases 7,000 Shares of Abacus Life, Inc. (NASDAQ:ABL) Stock

Abacus Life, Inc. (NASDAQ:ABL) Director Adam Samuel Gusky bought 7,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was purchased at an average price of $7.72 per share, with a total value of $54,040.00. Following the completion of the purchase, the director now directly owns 59,085 shares of the company’s stock, valued at $456,136.20. This represents a 13.44 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, December 13th, Adam Samuel Gusky purchased 3,000 shares of Abacus Life stock. The stock was acquired at an average cost of $7.85 per share, with a total value of $23,550.00.
• On Monday, December 9th, Adam Samuel Gusky purchased 6,000 shares of Abacus Life stock. The stock was bought at an average price of $7.94 per share, for a total transaction of $47,640.00.
• On Friday, December 6th, Adam Samuel Gusky bought 2,126 shares of Abacus Life stock. The stock was purchased at an average price of $7.93 per share, for a total transaction of $16,859.18.
• 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, with a total value of $137,537.14.

Abacus Life Trading Down 1.0 %

NASDAQ ABL traded down $0.08 during trading hours on Monday, hitting $7.86. The company’s stock had a trading volume of 266,932 shares, compared to its average volume of 89,988. The stock has a fifty day moving average of $8.67 and a 200 day moving average of $9.43. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.65. Abacus Life, Inc. has a twelve month low of $7.07 and a twelve month high of $13.25. The firm has a market capitalization of $665.58 million, a P/E ratio of -44.11 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, 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 business had revenue of $28.15 million during 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. Equities research analysts forecast that Abacus Life, Inc. will post 0.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ABL shares. Northland Securities started coverage on shares of Abacus Life in a research note on Thursday, October 24th. They issued an “outperform” rating and a $13.50 target price for the company. Piper Sandler restated an “overweight” rating and set a $13.00 target price (up previously from $12.00) on shares of Abacus Life in a report on Friday, November 8th. B. Riley Financial reiterated a “buy” rating and set a $16.00 price target on shares of Abacus Life in a research report on Friday, August 30th. B. Riley raised their price objective on shares of Abacus Life from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, Northland Capmk raised shares of Abacus Life to a “strong-buy” rating in a report on Thursday, October 24th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Abacus Life currently has a consensus rating of “Buy” and a consensus target price of $14.70.

Institutional Trading of Abacus Life

Hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC bought a new stake in Abacus Life in the second quarter valued at approximately $106,000. Levin Capital Strategies L.P. bought a new stake in shares of Abacus Life in the 2nd quarter valued at $130,000. Richard W. Paul & Associates LLC raised its stake in Abacus Life by 4.8% during the 2nd quarter. Richard W. Paul & Associates LLC now owns 30,448 shares of the company’s stock worth $263,000 after buying an additional 1,401 shares during the period. Quarry LP acquired a new position in Abacus Life in the second quarter valued at about $318,000. Finally, Sei Investments Co. bought a new stake in shares of Abacus Life in the second quarter worth about $418,000.

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.