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

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 value of $606,400.00. Following the completion of the sale, the insider now directly owns 12,361,500 shares of the company’s stock, valued at approximately $98,892,000. This represents a 0.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Abacus Life Stock Performance

Shares of ABL stock traded up $0.08 on Monday, hitting $7.80. The company had a trading volume of 178,722 shares, compared to its average volume of 94,269. The company has a 50-day moving average price of $8.46 and a 200-day moving average price of $9.31. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.65. The firm has a market cap of $660.50 million, a P/E ratio of -43.33 and a beta of 0.13. Abacus Life, Inc. has a twelve month low of $7.07 and a twelve month 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, beating analysts’ consensus estimates of $0.14 by $0.06. The firm had revenue of $28.15 million for 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 last year, the firm earned $0.01 EPS. As a group, equities research analysts predict that Abacus Life, Inc. will post 0.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Abacus Life

A number of institutional investors have recently added to or reduced their stakes in the stock. Evernest Financial Advisors LLC purchased a new stake in shares of Abacus Life during the third quarter worth about $681,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of Abacus Life in the third quarter worth approximately $614,000. Principal Financial Group Inc. increased its position in shares of Abacus Life by 7.9% during the third quarter. Principal Financial Group Inc. now owns 1,011,143 shares of the company’s stock worth $10,233,000 after purchasing an additional 74,172 shares in the last quarter. Royce & Associates LP raised its stake in Abacus Life by 35.0% in the 3rd quarter. Royce & Associates LP now owns 297,000 shares of the company’s stock valued at $3,006,000 after purchasing an additional 77,000 shares during the last quarter. Finally, Mendon Capital Advisors Corp purchased a new position in Abacus Life in the 2nd quarter valued at $4,974,000.

Analyst Ratings Changes

Several analysts have weighed in on ABL shares. B. Riley boosted their target price on shares of Abacus Life from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Northland Securities assumed coverage on Abacus Life in a research report on Thursday, October 24th. They issued an “outperform” rating and a $13.50 target price on the stock. B. Riley Financial reaffirmed a “buy” rating and set a $16.00 price target on shares of Abacus Life in a research report on Friday, August 30th. Northland Capmk raised Abacus Life to a “strong-buy” rating in a report on Thursday, October 24th. Finally, Piper Sandler reaffirmed 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. Five investment 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 has a consensus rating of “Buy” and an average target price 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.