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Abacus Life president Sean McNealy sells $606,400 in stock

Published 24/12/2024, 09:14 am
ABL
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Sean McNealy, Co-Founder and President of Abacus Life, Inc. (NASDAQ:ABL), has sold 75,800 shares of the company's common stock. The shares were sold at $8.00 each, totaling $606,400. According to InvestingPro data, this transaction occurred as the stock trades below its Fair Value, with analysts setting price targets between $13 and $17. Following this transaction, McNealy retains ownership of 12,361,500 shares in the company. The sale was disclosed in a recent SEC filing dated December 20, 2024. While the company has experienced significant cash burn recently, InvestingPro analysis reveals that analysts expect profitability this year, with 2 analysts recently revising earnings estimates upward. Access InvestingPro for 6 additional insights about ABL's financial health and growth prospects.

In other recent news, Abacus Life Inc. witnessed significant developments. The investment advisory firm reported robust financial results with over $100 million in investments for the quarter ending June 30, 2024. The company further expanded its assets under management through strategic acquisitions of FCF Advisors and Carlisle Management Company SCA.

Abacus Life's Compensation Committee adopted a new Restricted Stock Unit Award Agreement, granting 125,000 restricted stock units to the company's CFO, William H. McCauley, Jr. This agreement is part of the company's efforts to align the interests of its executives with those of its shareholders.

In analyst news, B.Riley maintained a Buy rating on Abacus Life shares and raised the price target to $17.00 from $16.00 following the company's recent $100 million common stock offering. Piper Sandler also raised its price target for Abacus Life from $12.00 to $13.00, while Northland initiated coverage on Abacus Life shares with an Outperform rating and a price target of $13.50.

Lastly, Abacus Life appointed Elena Plesco as its new Chief Capital Officer, indicating a focus on capital management strategies and global expansion. These are recent developments for Abacus Life Inc.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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