Abacus Global Management (NYSE:ABX) Reaches New 12-Month High – Time to Buy?

Shares of Abacus Global Management, Inc. (NYSE:ABX) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $10.04 and last traded at $10.2790, with a volume of 105864 shares. The stock had previously closed at $9.63.

Analysts Set New Price Targets

ABX has been the subject of a number of research reports. Weiss Ratings started coverage on Abacus Global Management in a report on Thursday, January 29th. They issued a “hold (c-)” rating for the company. Zacks Research downgraded Abacus Global Management from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 28th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Abacus Global Management currently has an average rating of “Hold”.

Abacus Global Management Trading Down 2.1%

The firm has a market cap of $986.98 million, a P/E ratio of 126.21 and a beta of -0.14. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.93 and a current ratio of 0.93.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Citizens Financial Group Inc. RI purchased a new position in shares of Abacus Global Management in the fourth quarter worth about $889,000. Summit Wealth & Retirement Planning Inc. purchased a new stake in Abacus Global Management during the 4th quarter valued at about $86,000. Pacific Ridge Capital Partners LLC bought a new position in Abacus Global Management during the 4th quarter worth approximately $962,000. World Investment Advisors bought a new position in Abacus Global Management during the 4th quarter worth approximately $181,000. Finally, Axxcess Wealth Management LLC purchased a new position in Abacus Global Management in the 4th quarter worth approximately $98,000.

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.