Kennedy Capital Management LLC Buys New Shares in Abacus Global Management, Inc. $ABX

Kennedy Capital Management LLC bought a new stake in shares of Abacus Global Management, Inc. (NYSE:ABX) during the 4th quarter, Holdings Channel reports. The firm bought 624,744 shares of the company’s stock, valued at approximately $5,342,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Citizens Financial Group Inc. RI purchased a new position in Abacus Global Management during the fourth quarter valued at $889,000. Royce & Associates LP purchased a new position in Abacus Global Management during the fourth quarter valued at $16,992,000. QTR Family Wealth LLC purchased a new position in Abacus Global Management during the fourth quarter valued at $5,110,000. Pacific Ridge Capital Partners LLC purchased a new position in Abacus Global Management during the fourth quarter valued at $962,000. Finally, Los Angeles Capital Management LLC purchased a new position in Abacus Global Management during the fourth quarter valued at $1,510,000.

Abacus Global Management Stock Up 0.7%

Shares of Abacus Global Management stock opened at $9.66 on Tuesday. The firm has a 50-day simple moving average of $9.02. Abacus Global Management, Inc. has a 52 week low of $4.60 and a 52 week high of $10.53. The stock has a market capitalization of $926.11 million, a P/E ratio of 24.76 and a beta of 0.09. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.79.

Analyst Ratings Changes

Several research firms recently weighed in on ABX. Wall Street Zen downgraded Abacus Global Management from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Abacus Global Management in a research report on Thursday. Texas Capital upgraded Abacus Global Management to a “strong-buy” rating in a research report on Tuesday, June 9th. Finally, Piper Sandler boosted their price objective on Abacus Global Management from $9.50 to $10.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Abacus Global Management currently has a consensus rating of “Moderate Buy” and an average 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.