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

Abacus Global Management, Inc. (NYSE:ABX) insider Sean Mcnealy sold 2,386 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 12,464,970 shares in the company, valued at $104,456,448.60. The trade was a 0.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Abacus Global Management Stock Up 4.6%

Abacus Global Management stock traded up $0.39 during trading hours on Wednesday, reaching $8.88. 1,364,248 shares of the company were exchanged, compared to its average volume of 476,904. Abacus Global Management, Inc. has a 12 month low of $4.60 and a 12 month high of $9.61. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $868.02 million, a P/E ratio of 111.00 and a beta of -0.10.

Institutional Investors Weigh In On Abacus Global Management

Several large investors have recently modified their holdings of the stock. Mendon Capital Advisors Corp acquired a new stake in Abacus Global Management in the 4th quarter valued at $17,207,000. Zacks Investment Management acquired a new stake in shares of Abacus Global Management in the 4th quarter valued at $184,000. Millennium Management LLC bought a new stake in shares of Abacus Global Management in the 4th quarter worth about $400,000. Janus Henderson Group PLC acquired a new stake in shares of Abacus Global Management during the 4th quarter worth about $186,000. Finally, AQR Capital Management LLC acquired a new stake in shares of Abacus Global Management during the 4th quarter worth about $462,000.

Analysts Set New Price Targets

ABX has been the topic of several recent analyst reports. Weiss Ratings assumed coverage on shares of Abacus Global Management in a report on Thursday, January 29th. They issued a “hold (c-)” rating on the stock. Zacks Research lowered Abacus Global Management from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 28th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average 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.