Abacus Global Management, Inc. $ABX is Mendon Capital Advisors Corp’s 4th Largest Position

Mendon Capital Advisors Corp cut its holdings in Abacus Global Management, Inc. (NYSE:ABX) by 3.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,949,321 shares of the company’s stock after selling 63,179 shares during the quarter. Abacus Global Management makes up about 4.5% of Mendon Capital Advisors Corp’s holdings, making the stock its 4th biggest holding. Mendon Capital Advisors Corp’s holdings in Abacus Global Management were worth $15,361,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Citizens Financial Group Inc. RI bought a new stake in shares of Abacus Global Management during the fourth quarter valued at approximately $889,000. Summit Wealth & Retirement Planning Inc. acquired a new stake in Abacus Global Management during the 4th quarter worth approximately $86,000. Pacific Ridge Capital Partners LLC purchased a new stake in Abacus Global Management in the fourth quarter valued at $962,000. World Investment Advisors purchased a new stake in Abacus Global Management in the 4th quarter valued at approximately $181,000. Finally, Axxcess Wealth Management LLC acquired a new stake in shares of Abacus Global Management during the 4th quarter worth about $98,000.

Abacus Global Management Stock Performance

ABX opened at $10.38 on Monday. Abacus Global Management, Inc. has a 12 month low of $5.00 and a 12 month high of $12.44. The business has a 50-day moving average of $9.93. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.91 and a current ratio of 1.91. The stock has a market capitalization of $995.65 million, a P/E ratio of 26.62 and a beta of 0.06.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Piper Sandler upped their target price on shares of Abacus Global Management from $10.00 to $13.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Abacus Global Management in a research report on Thursday, June 11th. Wall Street Zen downgraded shares of Abacus Global Management from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Texas Capital raised Abacus Global Management to a “strong-buy” rating in a research note on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $13.00.

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.