Abacus Global Management (NYSE:ABX) Reaches New 1-Year High – Here’s What Happened

Abacus Global Management, Inc. (NYSE:ABX)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $9.62 and last traded at $9.57, with a volume of 543346 shares traded. The stock had previously closed at $9.13.

Wall Street Analysts Forecast Growth

ABX has been the topic of several recent research reports. Weiss Ratings started coverage on shares of Abacus Global Management in a research note on Thursday, January 29th. They issued a “hold (c-)” rating on the stock. Zacks Research cut shares of Abacus Global Management from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 28th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Abacus Global Management Stock Performance

The company has a market cap of $935.50 million, a PE ratio of 119.63 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 Trading of Abacus Global Management

A number of hedge funds and other institutional investors have recently modified their holdings of ABX. Alyeska Investment Group L.P. bought a new stake in shares of Abacus Global Management during the 4th quarter valued at $17,554,000. Mendon Capital Advisors Corp purchased a new stake in Abacus Global Management in the 4th quarter worth $17,207,000. Royce & Associates LP bought a new stake in Abacus Global Management during the fourth quarter valued at about $16,992,000. Goldman Sachs Group Inc. purchased a new position in shares of Abacus Global Management in the fourth quarter valued at about $10,409,000. Finally, Alta Fundamental Advisers LLC bought a new position in shares of Abacus Global Management in the fourth quarter worth about $9,385,000.

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.