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

Abacus Global Management (NYSE:ABXGet Free Report) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

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

Get Our Latest Stock Analysis on Abacus Global Management

Abacus Global Management Price Performance

Shares of NYSE:ABX opened at $9.80 on Friday. The company has a market cap of $957.46 million, a P/E ratio of 26.47 and a beta of -0.14. Abacus Global Management has a 1 year low of $4.60 and a 1 year high of $10.50. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.93 and a current ratio of 0.93.

Abacus Global Management (NYSE:ABXGet Free Report) last posted its quarterly earnings data on Thursday, March 12th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The firm had revenue of $71.90 million for the quarter. Abacus Global Management had a return on equity of 19.10% and a net margin of 15.53%.

Institutional Investors Weigh In On Abacus Global Management

Several institutional investors and hedge funds have recently added to or reduced their stakes in ABX. Citizens Financial Group Inc. RI bought a new position in shares of Abacus Global Management in the 4th quarter valued at $889,000. Summit Wealth & Retirement Planning Inc. acquired a new position in shares of Abacus Global Management during the 4th quarter worth $86,000. Pacific Ridge Capital Partners LLC bought a new stake in shares of Abacus Global Management during the 4th quarter worth $962,000. World Investment Advisors bought a new stake in shares of Abacus Global Management during the 4th quarter worth $181,000. Finally, Axxcess Wealth Management LLC acquired a new stake in Abacus Global Management in the fourth quarter valued at about $98,000.

Abacus Global Management News Roundup

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

Abacus Global Management Company Profile

(Get Free Report)

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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