Abacus Global Management (NYSE:ABX) Cut to “Hold” at Zacks Research

Zacks Research lowered shares of Abacus Global Management (NYSE:ABX) from a strong-buy rating to a hold rating in a research report released on Wednesday morning,Zacks.com reports.

Abacus Global Management Stock Down 7.5%

Shares of NYSE ABX opened at $7.45 on Wednesday. The firm has a market capitalization of $728.24 million, a price-to-earnings ratio of 10.59 and a beta of -0.10. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.67. Abacus Global Management has a 1-year low of $4.60 and a 1-year high of $9.61.

Institutional Investors Weigh In On Abacus Global Management

An institutional investor recently bought a new position in Abacus Global Management stock. Citizens Financial Group Inc. RI acquired a new position in Abacus Global Management, Inc. (NYSE:ABX) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 104,000 shares of the company’s stock, valued at approximately $889,000. Citizens Financial Group Inc. RI owned approximately 0.11% of Abacus Global Management at the end of the most recent reporting period.

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.