Abacus Global Management (NYSE:ABX) Insider Sean Mcnealy Sells 2,386 Shares

Abacus Global Management, Inc. (NYSE:ABX) insider Sean Mcnealy sold 2,386 shares of the business’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $8.38, for a total transaction of $19,994.68. Following the sale, the insider directly owned 12,464,970 shares in the company, valued at approximately $104,456,448.60. This trade represents a 0.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Abacus Global Management Stock Performance

Shares of Abacus Global Management stock traded up $0.39 during midday trading on Wednesday, hitting $8.88. The company’s stock had a trading volume of 1,364,248 shares, compared to its average volume of 476,904. Abacus Global Management, Inc. has a 1-year low of $4.60 and a 1-year 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 cap of $868.02 million, a PE ratio of 111.00 and a beta of -0.10.

Hedge Funds Weigh In On Abacus Global Management

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Citizens Financial Group Inc. RI bought a new stake in Abacus Global Management in the fourth quarter worth approximately $889,000. Summit Wealth & Retirement Planning Inc. bought a new stake in Abacus Global Management in the fourth quarter worth $86,000. Pacific Ridge Capital Partners LLC bought a new stake in Abacus Global Management in the fourth quarter worth $962,000. World Investment Advisors acquired a new position in Abacus Global Management during the fourth quarter worth $181,000. Finally, Axxcess Wealth Management LLC bought a new position in Abacus Global Management during the fourth quarter valued at about $98,000.

Analyst Ratings Changes

A number of analysts have recently issued reports on ABX shares. Zacks Research lowered shares of Abacus Global Management from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 28th. Weiss Ratings started coverage on shares of Abacus Global Management in a research note on Thursday, January 29th. They set a “hold (c-)” rating for the company. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.

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.