Kevin Scott Kirby Sells 2,386 Shares of Abacus Global Management (NYSE:ABX) Stock

Abacus Global Management, Inc. (NYSE:ABX) insider Kevin Scott Kirby sold 2,386 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $8.38, for a total transaction of $19,994.68. Following the transaction, the insider directly owned 12,464,670 shares in the company, valued at approximately $104,453,934.60. The trade was a 0.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Abacus Global Management Price Performance

Shares of ABX opened at $8.73 on Friday. Abacus Global Management, Inc. has a 12-month low of $4.60 and a 12-month high of $9.61. The stock has a market capitalization of $853.36 million, a P/E ratio of 11.68 and a beta of -0.10. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.67.

Institutional Investors Weigh In On Abacus Global Management

A number of institutional investors have recently made changes to their positions in ABX. Citizens Financial Group Inc. RI purchased a new stake in shares of Abacus Global Management in the 4th quarter valued at approximately $889,000. Summit Wealth & Retirement Planning Inc. purchased a new stake in Abacus Global Management in the fourth quarter valued at approximately $86,000. Pacific Ridge Capital Partners LLC acquired a new position in Abacus Global Management during 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 purchased a new position in shares of Abacus Global Management during the fourth quarter worth $98,000.

Wall Street Analysts Forecast Growth

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