Abacus Global Management (NYSE:ABX) Stock Rating Upgraded by Texas Capital

Abacus Global Management (NYSE:ABX) was upgraded by research analysts at Texas Capital to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other analysts also recently commented on the stock. Piper Sandler lifted their target price on shares of Abacus Global Management from $9.50 to $10.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Wall Street Zen downgraded shares of Abacus Global Management from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. One analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $10.00.

Abacus Global Management Price Performance

Shares of ABX opened at $9.14 on Tuesday. The company has a 50-day moving average price of $8.93. Abacus Global Management has a one year low of $4.60 and a one year high of $10.53. The company has a market cap of $876.25 million, a P/E ratio of 23.42 and a beta of 0.09. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.79.

Abacus Global Management (NYSE:ABX) last announced its earnings results on Thursday, March 12th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.20 by $0.03. The business had revenue of $71.90 million during the quarter. Abacus Global Management had a net margin of 15.63% and a return on equity of 20.02%. Analysts expect that Abacus Global Management will post 1.01 earnings per share for the current year.

Institutional Trading of Abacus Global Management

A number of institutional investors have recently bought and sold shares of ABX. Alyeska Investment Group L.P. bought a new stake in Abacus Global Management in the 4th quarter valued at about $17,554,000. Mendon Capital Advisors Corp acquired a new position in shares of Abacus Global Management in the 4th quarter valued at approximately $17,207,000. Royce & Associates LP acquired a new position in shares of Abacus Global Management in the 4th quarter valued at approximately $16,992,000. Goldman Sachs Group Inc. acquired a new position in shares of Abacus Global Management in the 4th quarter valued at approximately $10,409,000. Finally, Alta Fundamental Advisers LLC acquired a new position in shares of Abacus Global Management in the 4th quarter valued at approximately $9,385,000.

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.