Abacus Global Management (NYSE:ABX) Price Target Lowered to $9.50 at Piper Sandler

Abacus Global Management (NYSE:ABX) had its price target reduced by Piper Sandler from $11.00 to $9.50 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

ABX has been the topic of a number of other research reports. Wall Street Zen downgraded Abacus Global Management from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Zacks Research downgraded Abacus Global Management from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 28th. Finally, Weiss Ratings started coverage on shares of Abacus Global Management in a research report on Thursday, January 29th. They set a “hold (c-)” rating on the stock. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Abacus Global Management currently has an average rating of “Hold” and a consensus price target of $9.50.

Abacus Global Management Stock Up 0.2%

Shares of NYSE ABX opened at $8.03 on Tuesday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.69. Abacus Global Management has a 52 week low of $4.60 and a 52 week high of $10.53. The business has a fifty day moving average price of $8.74. The stock has a market capitalization of $784.47 million, a P/E ratio of 21.69 and a beta of -0.04.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company purchased a new position in shares of Abacus Global Management during the 4th quarter worth approximately $114,000. Axxcess Wealth Management LLC purchased a new position in shares of Abacus Global Management during the 4th quarter worth approximately $98,000. World Investment Advisors purchased a new position in shares of Abacus Global Management during the 4th quarter worth approximately $181,000. Kennedy Capital Management LLC purchased a new stake in shares of Abacus Global Management in the 4th quarter worth about $5,342,000. Finally, QTR Family Wealth LLC purchased a new stake in shares of Abacus Global Management in the 4th quarter worth about $5,110,000.

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.