Abacus Global Management (NYSE:ABX) Lowered to Hold Rating by Wall Street Zen

Abacus Global Management (NYSE:ABXGet Free Report) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

ABX has been the subject of several other research reports. 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 downgraded shares of Abacus Global Management from an “overweight” rating to a “neutral” rating and set a $11.00 target price for the company. in a research note on Friday. Finally, Weiss Ratings started coverage on shares of Abacus Global Management in a report on Thursday, January 29th. They issued a “hold (c-)” rating on the stock. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $11.00.

View Our Latest Research Report on Abacus Global Management

Abacus Global Management Stock Down 0.6%

Shares of ABX stock opened at $9.80 on Friday. Abacus Global Management has a 1-year low of $4.60 and a 1-year high of $10.50. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market cap of $957.46 million, a P/E ratio of 26.47 and a beta of -0.14.

Abacus Global Management (NYSE:ABXGet Free Report) last announced its earnings results on Thursday, March 12th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. Abacus Global Management had a net margin of 15.53% and a return on equity of 19.10%. The business had revenue of $71.90 million during the quarter.

Institutional Investors Weigh In On Abacus Global Management

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

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Abacus Global Management Company Profile

(Get Free Report)

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.

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