Abacus Global Management (NYSE:ABX) Insider Sells $19,994.68 in Stock

Abacus Global Management, Inc. (NYSE:ABX) insider Kevin Scott Kirby sold 2,386 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $8.38, for a total value of $19,994.68. Following the sale, the insider owned 12,464,670 shares of the company’s stock, valued at $104,453,934.60. This trade represents a 0.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Abacus Global Management Stock Performance

ABX traded up $0.39 during trading on Wednesday, hitting $8.88. The stock had a trading volume of 1,364,248 shares, compared to its average volume of 476,904. The stock has a market capitalization of $868.02 million, a P/E ratio of 111.00 and a beta of -0.10. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.93 and a current ratio of 0.93. Abacus Global Management, Inc. has a twelve month low of $4.60 and a twelve month high of $9.61.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Zacks Research cut Abacus Global Management from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 28th. Weiss Ratings initiated coverage on Abacus Global Management in a report on Thursday, January 29th. They set a “hold (c-)” rating on the stock. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Abacus Global Management has an average rating of “Hold”.

Institutional Investors Weigh In On Abacus Global Management

A number of large investors have recently added to or reduced their stakes in ABX. Alyeska Investment Group L.P. acquired a new position in Abacus Global Management during the fourth quarter worth about $17,554,000. Mendon Capital Advisors Corp acquired a new position in shares of Abacus Global Management during the 4th quarter worth approximately $17,207,000. Royce & Associates LP acquired a new position in shares of Abacus Global Management during the 4th quarter worth approximately $16,992,000. Goldman Sachs Group Inc. purchased a new stake in Abacus Global Management in the 4th quarter valued at approximately $10,409,000. Finally, Alta Fundamental Advisers LLC acquired a new stake in Abacus Global Management during the 4th quarter valued at $9,385,000.

Abacus Global Management 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.