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

Abacus Life, Inc. (NASDAQ:ABL) CEO Jay J. Jackson sold 2,031,250 shares of Abacus Life stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $8.00, for a total transaction of $16,250,000.00. Following the completion of the transaction, the chief executive officer now directly owns 10,562,000 shares of the company’s stock, valued at $84,496,000. The trade was a 16.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Abacus Life Price Performance

Abacus Life stock opened at $7.67 on Tuesday. The stock has a market cap of $572.57 million, a price-to-earnings ratio of -42.61 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 1 year low of $6.56 and a 1 year high of $13.25. The firm has a 50-day moving average of $9.30 and a two-hundred day moving average of $9.81.

Abacus Life (NASDAQ:ABL) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.20 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $26.08 million. During the same period in the previous year, the company earned $0.01 EPS. On average, research analysts forecast that Abacus Life, Inc. will post 0.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ABL has been the subject of a number of recent analyst reports. B. Riley lifted their price target 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 reaffirmed a “buy” rating and set a $16.00 price target on shares of Abacus Life in a research note on Friday, August 30th. Northland Capmk raised shares of Abacus Life to a “strong-buy” rating in a research note on Thursday, October 24th. TD Cowen initiated coverage on shares of Abacus Life in a research note on Wednesday, August 7th. They set a “buy” rating and a $14.00 price target for the company. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $13.00 price target (up from $12.00) on shares of Abacus Life in a research note 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. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $14.70.

Institutional Investors Weigh In On Abacus Life

Several large investors have recently modified their holdings of the business. Geode Capital Management LLC raised its holdings in shares of Abacus Life by 439.6% in the 3rd quarter. Geode Capital Management LLC now owns 171,917 shares of the company’s stock valued at $1,741,000 after purchasing an additional 140,054 shares in the last quarter. Charles Schwab Investment Management Inc. bought a new position in shares of Abacus Life during the 3rd quarter worth approximately $614,000. Royce & Associates LP raised its stake in shares of Abacus Life by 35.0% during the 3rd quarter. Royce & Associates LP now owns 297,000 shares of the company’s stock worth $3,006,000 after acquiring an additional 77,000 shares in the last quarter. Curi RMB Capital LLC raised its stake 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 worth $5,566,000 after acquiring an additional 12,765 shares in the last quarter. Finally, 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.

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.