Abacus Global Management, Inc. (NYSE:ABX – Get Free Report) major shareholder Kevin Scott Kirby sold 38,334 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $10.31, for a total value of $395,223.54. Following the completion of the transaction, the insider directly owned 12,610,305 shares in the company, valued at $130,012,244.55. The trade was a 0.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Abacus Global Management Price Performance
ABX stock opened at $10.54 on Thursday. The company’s fifty day simple moving average is $10.15. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.91 and a quick ratio of 1.91. Abacus Global Management, Inc. has a fifty-two week low of $5.00 and a fifty-two week high of $12.44. The firm has a market cap of $1.01 billion, a PE ratio of 27.02 and a beta of 0.07.
Analyst Ratings Changes
Several equities research analysts have weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Abacus Global Management in a research report on Thursday, June 11th. Wall Street Zen lowered shares of Abacus Global Management from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Piper Sandler increased their price objective on Abacus Global Management from $10.00 to $13.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Finally, Texas Capital raised Abacus Global Management to a “strong-buy” rating in a research note on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $13.00.
Institutional Investors Weigh In On Abacus Global Management
A number of institutional investors and hedge funds 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 valued at approximately $17,554,000. Mendon Capital Advisors Corp acquired a new position in shares of Abacus Global Management in the 4th quarter valued at $17,207,000. Royce & Associates LP bought a new stake in shares of Abacus Global Management in the 4th quarter valued at $16,992,000. Goldman Sachs Group Inc. acquired a new stake in Abacus Global Management during the 4th quarter worth $10,409,000. Finally, Alta Fundamental Advisers LLC bought a new position in Abacus Global Management during the fourth quarter worth about $9,385,000.
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.
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