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 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 transaction, the insider directly owned 8,609,624 shares in the company, valued at $72,148,649.12. This trade represents a 0.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Abacus Global Management Stock Performance

Shares of NYSE ABX opened at $8.73 on Friday. The stock has a market cap of $853.38 million, a P/E ratio of 109.13 and a beta of -0.10. Abacus Global Management, Inc. has a fifty-two week low of $4.60 and a fifty-two week 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.

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ABX shares. Zacks Research lowered shares of Abacus Global Management from a “strong-buy” rating to a “hold” rating in a research note 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 equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold”.

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.