Abacus Global Management (NYSE:ABX) CEO Jay Jackson Sells 196,000 Shares of Stock

Abacus Global Management, Inc. (NYSE:ABX) CEO Jay Jackson sold 196,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $8.77, for a total value of $1,718,920.00. Following the transaction, the chief executive officer directly owned 10,397,430 shares in the company, valued at $91,185,461.10. This trade represents a 1.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Abacus Global Management Stock Performance

Shares of NYSE ABX traded up $0.76 during midday trading on Friday, reaching $9.28. 1,071,540 shares of the company’s stock were exchanged, compared to its average volume of 613,487. 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 52-week low of $5.00 and a 52-week high of $12.44. The stock’s fifty day moving average price is $10.20. The company has a market capitalization of $890.14 million, a PE ratio of 33.14 and a beta of 0.07.

Hedge Funds Weigh In On Abacus Global Management

Several hedge funds and other institutional investors have recently made changes to their positions in ABX. Russell Investments Group Ltd. bought a new position in Abacus Global Management in the 4th quarter worth approximately $30,000. Bank of New York Mellon Corp grew its stake in shares of Abacus Global Management by 5.1% in the first quarter. Bank of New York Mellon Corp now owns 152,101 shares of the company’s stock worth $1,199,000 after purchasing an additional 7,444 shares in the last quarter. New York State Common Retirement Fund bought a new position in shares of Abacus Global Management in the fourth quarter worth $75,000. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Abacus Global Management during the fourth quarter valued at $83,000. Finally, Summit Wealth & Retirement Planning Inc. acquired a new position in shares of Abacus Global Management during the fourth quarter valued at $86,000.

Wall Street Analyst Weigh In

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

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.