Abacus Life, Inc. (NASDAQ:ABL) Insider Matthew Ganovsky Sells 156,250 Shares

Abacus Life, Inc. (NASDAQ:ABL) insider Matthew Ganovsky sold 156,250 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $8.00, for a total value of $1,250,000.00. Following the completion of the sale, the insider now owns 10,847,047 shares in the company, valued at approximately $86,776,376. The trade was a 1.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Abacus Life Price Performance

NASDAQ ABL opened at $7.67 on Tuesday. The company has a market cap of $572.57 million, a PE ratio of -42.61 and a beta of 0.15. The firm’s 50 day moving average price is $9.30 and its 200-day moving average price is $9.81. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.29 and a current ratio of 1.29. Abacus Life, Inc. has a 52-week low of $6.56 and a 52-week high of $13.25.

Abacus Life (NASDAQ:ABL) last released its quarterly 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 during the quarter, compared to analyst estimates of $26.08 million. During the same period in the previous year, the company posted $0.01 EPS. Sell-side analysts forecast that Abacus Life, Inc. will post 0.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ABL. Northland Capmk upgraded shares of Abacus Life to a “strong-buy” rating in a report on Thursday, October 24th. B. Riley upped their target price on shares of Abacus Life from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday. Northland Securities initiated coverage on shares of Abacus Life in a research note on Thursday, October 24th. They set an “outperform” rating and a $13.50 price target for the company. B. Riley Financial reissued a “buy” rating and issued a $16.00 price objective on shares of Abacus Life in a research note on Friday, August 30th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $13.00 target price (up from $12.00) on shares of Abacus Life in a research report on Friday, November 8th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $14.70.

Institutional Trading of Abacus Life

A number of institutional investors have recently made changes to their positions in the business. Richard W. Paul & Associates LLC boosted its stake in Abacus Life by 4.8% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 30,448 shares of the company’s stock worth $263,000 after purchasing an additional 1,401 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Abacus Life in the second quarter worth $106,000. Curi RMB Capital LLC lifted its stake in shares of Abacus Life by 2.4% during the third quarter. Curi RMB Capital LLC now owns 550,000 shares of the company’s stock worth $5,566,000 after buying an additional 12,765 shares during the period. Levin Capital Strategies L.P. purchased a new stake in shares of Abacus Life during the second quarter valued at $130,000. Finally, Quarry LP acquired a new position in shares of Abacus Life in the 2nd quarter valued at $318,000.

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.