Abacus Global Management (NYSE:ABX) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Abacus Global Management (NYSE:ABX) from a hold rating to a buy rating in a report issued on Saturday.

Several other research analysts have also commented on the stock. Zacks Research lowered shares of Abacus Global Management from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 28th. Piper Sandler lowered their target price on shares of Abacus Global Management from $11.00 to $9.50 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Finally, Weiss Ratings began coverage on shares of Abacus Global Management in a research note on Thursday, January 29th. They issued a “hold (c-)” rating on the stock. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Abacus Global Management has an average rating of “Hold” and a consensus target price of $9.50.

Abacus Global Management Stock Up 0.6%

ABX stock opened at $8.11 on Friday. Abacus Global Management has a 12-month low of $4.60 and a 12-month high of $10.53. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.69. The stock has a market cap of $792.26 million, a P/E ratio of 21.91 and a beta of -0.04. The business has a 50 day moving average of $8.73.

Abacus Global Management (NYSE:ABX) last announced its quarterly earnings results on Thursday, March 12th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.20 by $0.03. Abacus Global Management had a net margin of 15.53% and a return on equity of 19.20%. The company had revenue of $71.90 million for the quarter.

Institutional Trading of Abacus Global Management

Hedge funds have recently modified their holdings of the company. QTR Family Wealth LLC acquired a new stake in shares of Abacus Global Management during the fourth quarter worth approximately $5,110,000. Oasis Management Co Ltd. acquired a new stake in shares of Abacus Global Management during the fourth quarter worth approximately $197,000. JB Capital Partners LP acquired a new stake in Abacus Global Management in the 4th quarter valued at about $684,000. Los Angeles Capital Management LLC acquired a new stake in Abacus Global Management in the 4th quarter valued at about $1,510,000. Finally, Alta Fundamental Advisers LLC acquired a new stake in Abacus Global Management in the 4th quarter valued at about $9,385,000.

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.