Abacus Life, Inc. (NASDAQ:ABL) Insider Sean Mcnealy Sells 75,800 Shares

Abacus Life, Inc. (NASDAQ:ABL) insider Sean Mcnealy sold 75,800 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $8.00, for a total transaction of $606,400.00. Following the completion of the sale, the insider now owns 12,361,500 shares of the company’s stock, valued at $98,892,000. This trade represents a 0.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Abacus Life Stock Up 1.0 %

NASDAQ ABL traded up $0.08 on Monday, reaching $7.80. 178,722 shares of the stock traded hands, compared to its average volume of 94,269. Abacus Life, Inc. has a 12 month low of $7.07 and a 12 month 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 company has a fifty day moving average price of $8.46 and a 200-day moving average price of $9.31. The company has a market cap of $660.50 million, a price-to-earnings ratio of -43.33 and a beta of 0.13.

Abacus Life (NASDAQ:ABL) last issued its earnings results on Thursday, November 7th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.06. Abacus Life had a negative net margin of 11.65% and a positive return on equity of 12.88%. The company had revenue of $28.15 million for the quarter, compared to analysts’ expectations of $26.08 million. During the same period in the prior year, the business earned $0.01 EPS. As a group, research analysts forecast that Abacus Life, Inc. will post 0.64 EPS for the current fiscal year.

Analysts Set New Price Targets

ABL has been the subject of several analyst reports. B. Riley raised their price objective on shares of Abacus Life from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Piper Sandler restated an “overweight” rating and set a $13.00 price objective (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 issued a $16.00 target price on shares of Abacus Life in a research note on Friday, August 30th. Northland Securities assumed coverage on Abacus Life in a research report on Thursday, October 24th. They set an “outperform” rating and a $13.50 target price for the company. Finally, Northland Capmk upgraded 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $14.70.

Institutional Trading of Abacus Life

Hedge funds have recently bought and sold shares of the stock. Evernest Financial Advisors LLC purchased a new stake in shares of Abacus Life during the 3rd quarter worth $681,000. Charles Schwab Investment Management Inc. bought a new stake in shares of Abacus Life in the 3rd quarter valued at about $614,000. Principal Financial Group Inc. raised its stake in shares of Abacus Life by 7.9% during the 3rd quarter. Principal Financial Group Inc. now owns 1,011,143 shares of the company’s stock worth $10,233,000 after acquiring an additional 74,172 shares in the last quarter. Royce & Associates LP lifted its position in Abacus Life by 35.0% during the third quarter. Royce & Associates LP now owns 297,000 shares of the company’s stock valued at $3,006,000 after acquiring an additional 77,000 shares during the last quarter. Finally, Mendon Capital Advisors Corp purchased a new position in Abacus Life in the second quarter worth $4,974,000.

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.