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

Abacus Global Management, Inc. (NYSE:ABX) insider Matthew Ganovsky sold 2,386 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $8.38, for a total transaction of $19,994.68. Following the completion of the sale, the insider directly owned 8,609,624 shares of the company’s stock, valued at approximately $72,148,649.12. The trade was a 0.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Abacus Global Management Price Performance

ABX traded up $0.39 during trading hours on Wednesday, reaching $8.88. 1,364,248 shares of the company’s stock traded hands, compared to its average volume of 476,904. The stock has a market cap of $868.02 million, a P/E ratio of 11.17 and a beta of -0.10. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.67. Abacus Global Management, Inc. has a 52-week low of $4.60 and a 52-week high of $9.61.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Weiss Ratings started coverage on shares of Abacus Global Management in a report on Thursday, January 29th. They set a “hold (c-)” rating for the company. Zacks Research downgraded shares of Abacus Global Management from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 28th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, Abacus Global Management currently has a consensus rating of “Hold”.

Institutional Investors Weigh In On Abacus Global Management

Large investors have recently modified their holdings of the business. Russell Investments Group Ltd. purchased a new stake in shares of Abacus Global Management in the 4th quarter worth approximately $30,000. New York State Common Retirement Fund bought a new position in Abacus Global Management in the fourth quarter worth approximately $75,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in Abacus Global Management during the fourth quarter worth $83,000. Summit Wealth & Retirement Planning Inc. purchased a new stake in Abacus Global Management during the fourth quarter worth $86,000. Finally, Intech Investment Management LLC bought a new stake in Abacus Global Management during the 4th quarter valued at $96,000.

About Abacus Global Management

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.