Ashford Capital Management Inc. Invests $6.82 Million in Abacus Global Management, Inc. $ABX

Ashford Capital Management Inc. bought a new position in shares of Abacus Global Management, Inc. (NYSE:ABX) in the 1st quarter, Holdings Channel.com reports. The firm bought 864,900 shares of the company’s stock, valued at approximately $6,815,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Alyeska Investment Group L.P. purchased a new position in Abacus Global Management in the 4th quarter worth approximately $17,554,000. Mendon Capital Advisors Corp bought a new stake in shares of Abacus Global Management during the fourth quarter valued at approximately $17,207,000. Royce & Associates LP bought a new stake in shares of Abacus Global Management during the fourth quarter valued at approximately $16,992,000. Goldman Sachs Group Inc. purchased a new position in shares of Abacus Global Management in the fourth quarter worth $10,409,000. Finally, Alta Fundamental Advisers LLC purchased a new position in shares of Abacus Global Management in the fourth quarter worth $9,385,000.

Analysts Set New Price Targets

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

Abacus Global Management Price Performance

NYSE:ABX opened at $10.48 on Tuesday. The company has a market cap of $1.01 billion, a P/E ratio of 26.87 and a beta of 0.06. Abacus Global Management, Inc. has a 1 year low of $5.00 and a 1 year high of $12.44. The business has a 50 day moving average price of $9.95. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.79.

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.