Abacus Global Management, Inc. (NYSE:ABX) Stock Now Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Analysts rate ABX a “Moderate Buy”, with one buy, one strong buy and three hold recommendations. The average 12-month price target is $12.00, above the reported $8.32 share price.
• Abacus completed a $400 million investment-grade securitization of life-insurance assets that was oversubscribed, strengthening its funding capacity and supporting management’s shift toward recurring, fee-related revenue.
• Major shareholders have continued selling shares under pre-arranged Rule 10b5-1 plans; insiders sold 748,011 shares worth $6.6 million over the past 90 days. The company has also authorized a $100 million share buyback, potentially covering up to 12.2% of outstanding shares.

Shares of Abacus Global Management, Inc. (NYSE:ABX - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the five research firms that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $12.00.

ABX has been the topic of several analyst reports. B. Riley Financial reiterated a "buy" rating on shares of Abacus Global Management in a report on Friday, August 7th. Piper Sandler decreased their price objective on shares of Abacus Global Management from $13.00 to $12.00 and set a "neutral" rating for the company in a report on Friday, August 7th. Weiss Ratings reiterated a "hold (c)" rating on shares of Abacus Global Management in a research note on Tuesday, September 8th. Finally, Texas Capital upgraded shares of Abacus Global Management to a "strong-buy" rating in a report on Tuesday, June 9th.

Insider Activity

In other news, major shareholder Sean Mcnealy sold 22,700 shares of the firm's stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $7.74, for a total value of $175,698.00. Following the sale, the insider directly owned 12,506,952 shares of the company's stock, valued at approximately $96,803,808.48. This trade represents a 0.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Matthew Ganovsky sold 22,800 shares of Abacus Global Management stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $7.74, for a total value of $176,472.00. Following the completion of the transaction, the insider owned 8,651,148 shares in the company, valued at $66,959,885.52. The trade was a 0.26% decrease in their ownership of the stock. 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. Over the last ninety days, insiders have sold 748,011 shares of company stock valued at $6,592,002. 46.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Axxcess Wealth Management LLC acquired a new stake in shares of Abacus Global Management in the fourth quarter worth $98,000. Susquehanna Fundamental Investments LLC acquired a new position in Abacus Global Management during the 2nd quarter valued at $221,000. World Investment Advisors acquired a new position in Abacus Global Management during the 4th quarter valued at $181,000. Oasis Management Co Ltd. bought a new stake in Abacus Global Management in the 4th quarter valued at $197,000. Finally, Hsbc Holdings PLC bought a new stake in Abacus Global Management in the 2nd quarter valued at $285,000.

Key Stories Impacting Abacus Global Management

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.

Abacus Global Management Stock Up 0.6%

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

Abacus Global Management announced that its board has initiated a share buyback plan on Friday, August 14th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to purchase up to 12.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

About Abacus Global Management

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.

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