QTR Family Wealth LLC Makes New Investment in Abacus Global Management, Inc. $ABX

QTR Family Wealth LLC purchased a new position in Abacus Global Management, Inc. (NYSE:ABX) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 628,578 shares of the company’s stock, valued at approximately $5,110,000. Abacus Global Management accounts for approximately 2.3% of QTR Family Wealth LLC’s investment portfolio, making the stock its 8th biggest holding.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Abacus Global Management in the 4th quarter worth approximately $161,000. Wells Fargo & Company MN bought a new position in Abacus Global Management in the 4th quarter worth approximately $429,000. Oasis Management Co Ltd. bought a new position in Abacus Global Management in the 4th quarter worth approximately $197,000. JB Capital Partners LP bought a new position in Abacus Global Management in the 4th quarter worth approximately $684,000. Finally, Jane Street Group LLC bought a new position in Abacus Global Management in the 4th quarter worth approximately $2,278,000.

Abacus Global Management Stock Performance

NYSE ABX opened at $9.62 on Friday. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.79. The company has a market cap of $922.75 million, a P/E ratio of 24.67 and a beta of 0.09. Abacus Global Management, Inc. has a one year low of $4.60 and a one year high of $10.53. The firm’s 50 day moving average price is $8.99.

Abacus Global Management (NYSE:ABX) last posted its earnings results on Thursday, March 12th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The firm had revenue of $71.90 million during the quarter. Abacus Global Management had a return on equity of 20.02% and a net margin of 15.63%. As a group, equities analysts predict that Abacus Global Management, Inc. will post 1.01 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Piper Sandler upped their price target on Abacus Global Management from $9.50 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Wall Street Zen downgraded Abacus Global Management from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Texas Capital upgraded Abacus Global Management to a “strong-buy” rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.00.

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.