Abacus Global Management (NYSE:ABX) Rating Lowered to Neutral at Piper Sandler

Abacus Global Management (NYSE:ABXGet Free Report) was downgraded by equities researchers at Piper Sandler from an “overweight” rating to a “neutral” rating in a report released on Friday, Marketbeat Ratings reports. They currently have a $11.00 target price on the stock. Piper Sandler’s price objective would indicate a potential upside of 12.30% from the stock’s previous close.

A number of other research firms also recently issued reports on ABX. Weiss Ratings started coverage on shares of Abacus Global Management in a research report on Thursday, January 29th. They set a “hold (c-)” rating for the company. Zacks Research lowered Abacus Global Management from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 28th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $11.00.

Get Our Latest Analysis on Abacus Global Management

Abacus Global Management Trading Down 0.6%

Shares of NYSE ABX opened at $9.80 on Friday. Abacus Global Management has a 52 week low of $4.60 and a 52 week 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 company has a market capitalization 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 quarterly earnings data on Thursday, March 12th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.20 by $0.03. The business had revenue of $71.90 million during the quarter. Abacus Global Management had a net margin of 15.53% and a return on equity of 19.10%.

Institutional Investors Weigh In On Abacus Global Management

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

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About Abacus Global Management

(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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