Abacus Global Management (NYSE:ABX) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Abacus Global Management (NYSE:ABX) from a "buy" to a "hold," and other firms have similarly lowered ratings, leaving a consensus target price of $9.50.
• Shares opened at $9.38 and trade near the consensus target within a 12‑month range of $4.60–$10.53; the company has a market cap of about $905.6M and a P/E of 25.35.
• Abacus beat quarterly EPS estimates ($0.23 vs. $0.20) on $71.9M of revenue with a 19.2% ROE and 15.53% net margin, while several institutional investors (including Alyeska, Mendon, Royce and Goldman) initiated sizable stakes in Q4.

Abacus Global Management (NYSE:ABX - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

ABX has been the subject of a number of other reports. Piper Sandler dropped their price objective on Abacus Global Management from $11.00 to $9.50 and set a "neutral" rating for the company in a research note on Tuesday, April 7th. Zacks Research lowered Abacus Global Management from a "strong-buy" rating to a "hold" rating in a report on Wednesday, January 28th. Finally, Weiss Ratings assumed coverage on Abacus Global Management in a report on Thursday, January 29th. They issued a "hold (c-)" rating for the company. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, Abacus Global Management presently has an average rating of "Hold" and a consensus target price of $9.50.

Abacus Global Management Trading Down 1.3%

Shares of NYSE ABX opened at $9.38 on Friday. Abacus Global Management has a twelve month low of $4.60 and a twelve month high of $10.53. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.47 and a quick ratio of 0.47. The company has a fifty day moving average price of $9.05. The firm has a market capitalization of $905.64 million, a PE ratio of 25.35 and a beta of 0.11.

Abacus Global Management (NYSE:ABX - Get Free Report) last issued its quarterly earnings data on Thursday, March 12th. The company reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.03. Abacus Global Management had a return on equity of 19.20% and a net margin of 15.53%.The business had revenue of $71.90 million during the quarter. On average, equities analysts predict that Abacus Global Management will post 0.98 earnings per share for the current year.

Institutional Trading of Abacus Global Management

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

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.

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