JB Capital Partners LP Buys Shares of 80,000 Abacus Global Management, Inc. $ABX

JB Capital Partners LP bought a new stake in Abacus Global Management, Inc. (NYSE:ABX) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 80,000 shares of the company’s stock, valued at approximately $684,000. JB Capital Partners LP owned about 0.08% of Abacus Global Management at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New York State Common Retirement Fund purchased a new position in Abacus Global Management in the fourth quarter valued at about $75,000. Summit Wealth & Retirement Planning Inc. purchased a new position in Abacus Global Management in the fourth quarter valued at about $86,000. Intech Investment Management LLC purchased a new position in Abacus Global Management in the fourth quarter valued at about $96,000. Axxcess Wealth Management LLC purchased a new stake in shares of Abacus Global Management during the fourth quarter worth about $98,000. Finally, World Investment Advisors purchased a new stake in shares of Abacus Global Management during the fourth quarter worth about $181,000.

Abacus Global Management Stock Performance

Shares of ABX stock opened at $9.62 on Friday. Abacus Global Management, Inc. has a fifty-two week low of $4.60 and a fifty-two week high of $10.53. The stock has a market capitalization of $922.75 million, a price-to-earnings ratio of 24.67 and a beta of 0.09. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.91 and a quick ratio of 1.91. The business’s 50-day simple moving average is $8.99.

Abacus Global Management (NYSE:ABX) last issued its quarterly earnings results on Thursday, March 12th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. Abacus Global Management had a return on equity of 20.02% and a net margin of 15.63%.The business had revenue of $71.90 million for the quarter. As a group, equities analysts forecast that Abacus Global Management, Inc. will post 1.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ABX shares. Texas Capital upgraded Abacus Global Management to a “strong-buy” rating in a research note on Tuesday. Piper Sandler boosted their price target on Abacus Global Management from $9.50 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Finally, Wall Street Zen lowered Abacus Global Management from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. One analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $10.00.

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.