Abacus Global Management (NYSE:ABX) Hits New 1-Year High – What’s Next?

Abacus Global Management, Inc. (NYSE:ABX)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $11.90 and last traded at $11.7580, with a volume of 345 shares traded. The stock had previously closed at $11.86.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ABX shares. Texas Capital upgraded shares of Abacus Global Management to a “strong-buy” rating in a research report on Tuesday, June 9th. Piper Sandler upped their target price on shares of Abacus Global Management from $9.50 to $10.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Abacus Global Management in a report on Thursday, June 11th. Finally, Wall Street Zen cut shares of 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 given a Hold rating to the company’s stock. According to MarketBeat, Abacus Global Management has a consensus rating of “Moderate Buy” and a consensus price target of $10.00.

Abacus Global Management Trading Down 1.5%

The firm has a market cap of $1.13 billion, a PE ratio of 30.30 and a beta of 0.06. The business’s 50 day simple moving average is $9.55. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.91 and a quick ratio of 1.91.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. acquired a new position in shares of Abacus Global Management during the 4th quarter worth approximately $30,000. New York State Common Retirement Fund acquired a new stake in shares of Abacus Global Management in the 4th quarter valued at approximately $75,000. Police & Firemen s Retirement System of New Jersey acquired a new position in Abacus Global Management during the fourth quarter worth $83,000. Summit Wealth & Retirement Planning Inc. acquired a new position in Abacus Global Management during the fourth quarter worth $86,000. Finally, Intech Investment Management LLC bought a new stake in Abacus Global Management during the fourth quarter worth $96,000.

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.