Abacus Global Management, Inc. (NYSE:ABX – Get Free Report) major shareholder Sean Mcnealy sold 38,333 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $10.31, for a total transaction of $395,213.23. Following the completion of the sale, the insider owned 12,610,606 shares of the company’s stock, valued at approximately $130,015,347.86. The trade was a 0.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Abacus Global Management Price Performance
Shares of Abacus Global Management stock opened at $10.41 on Friday. The firm has a market cap of $998.53 million, a PE ratio of 26.69 and a beta of 0.07. The business’s 50 day moving average is $10.18. Abacus Global Management, Inc. has a 1-year low of $5.00 and a 1-year high of $12.44. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.79.
Abacus Global Management News Roundup
Here are the key news stories impacting Abacus Global Management this week:
- Positive Sentiment: One earnings report stated that Abacus earned $0.28 per share, exceeding the $0.25 consensus estimate and improving from $0.22 a year earlier. Revenue was reported at approximately $73.0 million. Abacus Global Management Tops Q2 Earnings and Revenue Estimates
- Positive Sentiment: Analyst sentiment remains moderately constructive. Piper Sandler raised its price target to $13, while Texas Capital upgraded the stock to “strong buy.” The reported consensus target is $13, implying potential upside from recent trading levels.
- Neutral Sentiment: Fiscal 2026 EPS guidance of $1.00-$1.05 is broadly in line with the $1.01 consensus estimate. Third-quarter guidance of $0.26-$0.28 also brackets the $0.27 consensus, suggesting limited near-term guidance surprise.
- Neutral Sentiment: Published earnings figures are inconsistent: MarketBeat reported quarterly EPS of $0.23, below the $0.25 consensus, while Zacks reported $0.28 and a beat. Investors may await the company’s official filing or earnings call for clarification.
- Negative Sentiment: Major shareholders Matthew Ganovsky, Kevin Scott Kirby and Sean McNealy each sold roughly 38,333-38,334 shares at about $10.31 per share. Although each transaction reduced the holder’s position by less than 0.5%, the cluster of sales may weigh on sentiment.
Wall Street Analyst Weigh In
Read Our Latest Stock Analysis on ABX
Institutional Trading of Abacus Global Management
Hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. purchased a new stake in shares of Abacus Global Management during the 4th quarter valued at approximately $30,000. New York State Common Retirement Fund acquired a new position in Abacus Global Management in the fourth quarter valued at approximately $75,000. Police & Firemen s Retirement System of New Jersey purchased a new position in Abacus Global Management in the fourth quarter worth approximately $83,000. Summit Wealth & Retirement Planning Inc. purchased a new position in Abacus Global Management in the fourth quarter worth approximately $86,000. Finally, Intech Investment Management LLC acquired a new stake in Abacus Global Management during the fourth quarter worth $96,000.
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.
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