Abacus Global Management (NYSE:ABX) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Abacus Global Management (NYSE:ABX) from a buy rating to a hold rating in a research note released on Saturday morning.

ABX has been the subject of several other reports. Zacks Research lowered Abacus Global Management from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 28th. Weiss Ratings started coverage on Abacus Global Management in a report on Thursday, January 29th. They issued a “hold (c-)” rating on the stock. Finally, Piper Sandler lowered Abacus Global Management from an “overweight” rating to a “neutral” rating and set a $11.00 price objective for the company. in a research report on Friday. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $11.00.

Abacus Global Management Stock Up 1.3%

NYSE ABX opened at $9.93 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.67. Abacus Global Management has a one year low of $4.60 and a one year high of $10.54. The stock has a market capitalization of $970.17 million, a PE ratio of 26.82 and a beta of -0.14.

Abacus Global Management (NYSE:ABX) last released its quarterly earnings data on Thursday, March 12th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.03. Abacus Global Management had a net margin of 15.53% and a return on equity of 19.10%. The firm had revenue of $71.90 million for the quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ABX. Russell Investments Group Ltd. acquired a new position in shares of Abacus Global Management during the fourth quarter valued at $30,000. New York State Common Retirement Fund acquired a new stake in Abacus Global Management in the fourth quarter worth about $75,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in Abacus Global Management in the fourth quarter worth about $83,000. Summit Wealth & Retirement Planning Inc. bought a new position in Abacus Global Management in the 4th quarter valued at about $86,000. Finally, Intech Investment Management LLC bought a new position in Abacus Global Management in the 4th quarter valued at about $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.