Abacus Global Management, Inc. (NYSE:ABX) Stock Has Consensus Price Target of $12.00 According to Analysts

Shares of Abacus Global Management, Inc. (NYSE:ABX) have earned a consensus recommendation of “Moderate Buy” from the five ratings firms that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $12.00.

A number of brokerages have commented on ABX. B. Riley Financial reiterated a “buy” rating on shares of Abacus Global Management in a research report on Friday, August 7th. Piper Sandler lowered their price objective on Abacus Global Management from $13.00 to $12.00 and set a “neutral” rating on the stock in a research report on Friday, August 7th. Texas Capital upgraded Abacus Global Management to a “strong-buy” rating in a research note on Tuesday, June 9th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Abacus Global Management in a research report on Tuesday, September 8th.

Abacus Global Management Trading Up 0.6%

Shares of ABX opened at $8.32 on Friday. Abacus Global Management has a 12-month low of $5.00 and a 12-month high of $12.44. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $813.32 million, a price-to-earnings ratio of 29.70 and a beta of 0.06. The stock’s 50-day moving average price is $9.55 and its 200 day moving average price is $9.48.

Abacus Global Management declared that its board has approved a share repurchase program on Friday, August 14th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to repurchase up to 12.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Key Abacus Global Management News

Here are the key news stories impacting Abacus Global Management this week:

• Positive Sentiment: Abacus completed a landmark $400 million securitization of life-insurance assets. The dual-tranche transaction received an investment-grade rating, was oversubscribed and was increased in size because of strong institutional fixed-income demand. The successful deal supports Abacus Global Management’s funding capacity and validates the maturity of its securitization platform. Abacus Global Management Completes Landmark $400 Million Securitization
• Positive Sentiment: Management said the transaction advances the company’s shift toward more recurring, fee-related revenue. For investors, that could reduce reliance on one-time asset sales and provide a more scalable earnings model if Abacus can repeat similar transactions.
• Neutral Sentiment: Abacus Global Management is scheduled to participate in a virtual fireside chat hosted by Autonomous Research. The event may provide additional details on securitization demand, growth plans and revenue visibility, but it does not represent a new financial commitment. Abacus Global Management to Participate in Virtual Fireside Chat
• Negative Sentiment: Major shareholders Sean McNealy, Kevin Scott Kirby and Matthew Ganovsky each reported additional sales of roughly 22,700 shares at approximately $7.74 per share. The combined proceeds were about $528,000. Each sale was made under a pre-arranged Rule 10b5-1 plan and represented only a small fraction of the holders’ remaining positions, limiting its fundamental significance but potentially adding near-term selling pressure. Abacus Global Management Insider Trading Activity
• Negative Sentiment: The latest transactions follow several other founder sales during September. Continued insider selling may weigh on confidence even though the founders retain substantial ownership and the trades were conducted through established trading plans.

Insider Activity

In related news, major shareholder Kevin Kirby sold 22,745 shares of the company’s stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $7.74, for a total value of $176,046.30. Following the sale, the insider owned 12,506,060 shares of the company’s stock, valued at $96,796,904.40. The trade was a 0.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Sean Mcnealy sold 22,700 shares of the stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $7.74, for a total transaction of $175,698.00. Following the completion of the transaction, the insider directly owned 12,506,952 shares of the company’s stock, valued at $96,803,808.48. This trade represents a 0.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 748,011 shares of company stock worth $6,592,002. Corporate insiders own 46.40% of the company’s stock.

Hedge Funds Weigh In On Abacus Global Management

Hedge funds have recently modified their holdings of the stock. Engineers Gate Manager LP boosted its stake in Abacus Global Management by 86.0% in the 2nd quarter. Engineers Gate Manager LP now owns 56,557 shares of the company’s stock valued at $606,000 after buying an additional 26,157 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in shares of Abacus Global Management by 20.8% during the second quarter. Squarepoint Ops LLC now owns 55,551 shares of the company’s stock valued at $595,000 after acquiring an additional 9,580 shares during the period. Grandeur Peak Global Advisors LLC lifted its holdings in shares of Abacus Global Management by 31.6% during the second quarter. Grandeur Peak Global Advisors LLC now owns 205,787 shares of the company’s stock valued at $2,204,000 after acquiring an additional 49,447 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Abacus Global Management in the 2nd quarter valued at $221,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of Abacus Global Management in the 2nd quarter valued at $285,000.

Abacus Global Management Company Profile

Abacus Global Management, Inc (NYSE: ABX) is an alternative asset management company focused on longevity-related assets, including life insurance policies. Through its platform, the company acquires life insurance policies from policyholders, provides liquidity to policy sellers, and manages portfolios of policies through maturity or other disposition.

The company’s activities include life settlement origination, policy servicing, portfolio management and investment management. Its business is designed to provide institutional and other investors with access to the life settlement market, in which investment returns are linked in part to policy values and the longevity of insured individuals.

Abacus Global Management traces its operating roots to Abacus Life, a life settlement provider established in 2004.