Abacus Global Management (NYSE:ABX) Upgraded to Buy at Wall Street Zen

Abacus Global Management (NYSE:ABX) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

Several other equities research analysts have also recently issued reports on the company. Piper Sandler reduced their target price on Abacus Global Management from $11.00 to $9.50 and set a “neutral” rating on the stock in a report on Tuesday. Weiss Ratings assumed coverage on Abacus Global Management in a research report on Thursday, January 29th. They set a “hold (c-)” rating for the company. Finally, Zacks Research lowered Abacus Global Management from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 28th. Three analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $9.50.

Abacus Global Management Stock Up 0.6%

NYSE:ABX opened at $8.11 on Friday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.69. The firm’s 50-day simple moving average is $8.73. The company has a market capitalization of $792.29 million, a PE ratio of 21.91 and a beta of -0.04. Abacus Global Management has a 52 week low of $4.60 and a 52 week high of $10.53.

Abacus Global Management (NYSE:ABX) last posted its quarterly earnings results on Thursday, March 12th. The company reported $0.23 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 business had revenue of $71.90 million for the quarter.

Institutional Investors Weigh In On Abacus Global Management

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

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.