Capital Investment Advisory Services LLC Invests $697,000 in Abacus Global Management, Inc. $ABX

Capital Investment Advisory Services LLC bought a new position in shares of Abacus Global Management, Inc. (NYSE:ABX) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 65,066 shares of the company’s stock, valued at approximately $697,000.

Several other hedge funds have also recently bought and sold shares of ABX. Russell Investments Group Ltd. acquired a new position in Abacus Global Management during the fourth quarter valued at approximately $30,000. New York State Common Retirement Fund purchased a new position in shares of Abacus Global Management in the 4th quarter valued at $75,000. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Abacus Global Management in the 4th quarter valued at $83,000. Summit Wealth & Retirement Planning Inc. acquired a new position in shares of Abacus Global Management during the 4th quarter valued at $86,000. Finally, Intech Investment Management LLC purchased a new stake in Abacus Global Management during the 4th quarter worth $96,000.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ABX. Texas Capital upgraded Abacus Global Management to a “strong-buy” rating in a report on Tuesday, June 9th. Piper Sandler decreased their target price on Abacus Global Management from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Friday, August 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Abacus Global Management in a research note on Thursday, June 11th. Wall Street Zen downgraded Abacus Global Management from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, B. Riley Financial reissued a “buy” rating on shares of Abacus Global Management in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.00.

Insider Activity at Abacus Global Management

In other Abacus Global Management news, major shareholder Kevin Scott Kirby sold 38,334 shares of the firm’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 transaction of $395,223.54. Following the completion of the sale, the insider owned 12,610,305 shares in the company, valued at $130,012,244.55. This trade represents a 0.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Matthew Ganovsky sold 38,333 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $10.31, for a total value of $395,213.23. Following the completion of the transaction, the insider directly owned 8,755,260 shares in the company, valued at approximately $90,266,730.60. The trade was a 0.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 115,000 shares of company stock valued at $1,185,650. Insiders own 46.40% of the company’s stock.

Abacus Global Management Price Performance

NYSE:ABX opened at $8.52 on Friday. The firm has a 50-day moving average price of $10.20. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.79. The stock has a market cap of $816.76 million, a PE ratio of 30.41 and a beta of 0.07. Abacus Global Management, Inc. has a 1-year low of $5.00 and a 1-year high of $12.44.

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.