Jay J. Jackson Sells 2,031,250 Shares of Abacus Life, Inc. (NASDAQ:ABL) Stock

Abacus Life, Inc. (NASDAQ:ABL) CEO Jay J. Jackson sold 2,031,250 shares of Abacus Life stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $8.00, for a total value of $16,250,000.00. Following the completion of the sale, the chief executive officer now directly owns 10,562,000 shares of the company’s stock, valued at approximately $84,496,000. This trade represents a 16.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Abacus Life Stock Up 2.0 %

Shares of NASDAQ:ABL opened at $7.82 on Wednesday. The firm has a fifty day moving average price of $9.26 and a two-hundred day moving average price of $9.78. The company has a market cap of $583.77 million, a price-to-earnings ratio of -43.83 and a beta of 0.15. 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 one year low of $6.56 and a one year high of $13.25.

Abacus Life (NASDAQ:ABL) last posted 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. The business had revenue of $28.15 million during the quarter, compared to analysts’ expectations 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 earnings per share. Analysts anticipate that Abacus Life, Inc. will post 0.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ABL shares. B. Riley lifted 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. B. Riley Financial reiterated a “buy” rating and issued a $16.00 price objective on shares of Abacus Life in a research note on Friday, August 30th. 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 research report on Friday, November 8th. Northland Capmk upgraded Abacus Life to a “strong-buy” rating in a research report on Thursday, October 24th. Finally, Northland Securities assumed coverage on Abacus Life in a report on Thursday, October 24th. They set an “outperform” rating and a $13.50 price objective on the stock. Five analysts have rated the stock with a buy rating and one has given 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 target price of $14.70.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Richard W. Paul & Associates LLC raised its stake in Abacus Life by 4.8% in the second quarter. Richard W. Paul & Associates LLC now owns 30,448 shares of the company’s stock valued at $263,000 after purchasing an additional 1,401 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Abacus Life in the 2nd quarter worth $106,000. Curi RMB Capital LLC raised its position in shares of Abacus Life by 2.4% during the 3rd quarter. Curi RMB Capital LLC now owns 550,000 shares of the company’s stock valued at $5,566,000 after buying an additional 12,765 shares in the last quarter. Levin Capital Strategies L.P. bought a new stake in shares of Abacus Life during the 2nd quarter worth $130,000. Finally, Quarry LP purchased a new position in Abacus Life in the second quarter worth $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.