Abacus Global Management (NYSE:ABX) Stock Rating Upgraded by Texas Capital

Abacus Global Management (NYSE:ABX) was upgraded by Texas Capital to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

ABX has been the subject of a number of other reports. Piper Sandler raised their target price 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. Wall Street Zen downgraded Abacus Global Management from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $10.00.

Abacus Global Management Stock Up 2.2%

Shares of ABX opened at $9.14 on Tuesday. Abacus Global Management has a 52-week low of $4.60 and a 52-week high of $10.53. The firm has a market cap of $876.25 million, a P/E ratio of 23.42 and a beta of 0.09. The business has a fifty day moving average of $8.93. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.79.

Abacus Global Management (NYSE:ABX) last issued its earnings results on Thursday, March 12th. The company reported $0.23 earnings per share (EPS) 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 during the quarter. As a group, equities analysts anticipate that Abacus Global Management will post 1.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Abacus Global Management

A number of hedge funds have recently modified their holdings of the business. Alyeska Investment Group L.P. purchased a new position in shares of Abacus Global Management during the 4th quarter worth $17,554,000. Mendon Capital Advisors Corp purchased a new position in shares of Abacus Global Management during the 4th quarter worth $17,207,000. Royce & Associates LP purchased a new position in shares of Abacus Global Management during the 4th quarter worth $16,992,000. Goldman Sachs Group Inc. purchased a new position in shares of Abacus Global Management during the 4th quarter worth $10,409,000. Finally, Alta Fundamental Advisers LLC purchased a new position in shares of Abacus Global Management during the 4th quarter worth $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.