Matthew Ganovsky Sells 2,386 Shares of Abacus Global Management (NYSE:ABX) Stock

Abacus Global Management, Inc. (NYSE:ABX) insider Matthew Ganovsky sold 2,386 shares of the stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $8.38, for a total value of $19,994.68. Following the sale, the insider owned 8,609,624 shares of the company’s stock, valued at approximately $72,148,649.12. This represents a 0.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Abacus Global Management Stock Performance

Shares of ABX stock opened at $8.73 on Friday. Abacus Global Management, Inc. has a 1-year low of $4.60 and a 1-year high of $9.61. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.67. The firm has a market cap of $853.36 million, a P/E ratio of 11.68 and a beta of -0.10.

Hedge Funds Weigh In On Abacus Global Management

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on ABX. Weiss Ratings assumed coverage on shares of Abacus Global Management in a research note on Thursday, January 29th. They issued a “hold (c-)” rating for the company. Zacks Research lowered shares of Abacus Global Management from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 28th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Abacus Global Management presently has an average rating of “Hold”.

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.