Royce & Associates LP Buys Shares of 1,987,367 Abacus Global Management, Inc. $ABX

Royce & Associates LP bought a new stake in shares of Abacus Global Management, Inc. (NYSE:ABX) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,987,367 shares of the company’s stock, valued at approximately $16,992,000. Royce & Associates LP owned approximately 2.03% of Abacus Global Management at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Pacific Ridge Capital Partners LLC bought a new position in Abacus Global Management during the fourth quarter valued at about $962,000. Citizens Financial Group Inc. RI bought a new position in Abacus Global Management during the fourth quarter valued at about $889,000. World Investment Advisors bought a new position in Abacus Global Management during the fourth quarter valued at about $181,000. Axxcess Wealth Management LLC bought a new position in Abacus Global Management during the fourth quarter valued at about $98,000. Finally, Summit Wealth & Retirement Planning Inc. bought a new position in Abacus Global Management during the fourth quarter valued at about $86,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Zacks Research downgraded Abacus Global Management from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 28th. Piper Sandler raised their price target on Abacus Global Management from $9.50 to $10.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Weiss Ratings assumed coverage on Abacus Global Management in a research report on Thursday, January 29th. They issued a “hold (c-)” rating on the stock. Finally, Wall Street Zen downgraded Abacus Global Management from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, Abacus Global Management has an average rating of “Hold” and an average target price of $10.00.

Abacus Global Management Stock Performance

Shares of NYSE:ABX opened at $9.60 on Wednesday. The firm has a market capitalization of $920.85 million, a P/E ratio of 24.62 and a beta of 0.11. The company has a 50-day simple moving average of $8.95. Abacus Global Management, Inc. has a 52-week low of $4.60 and a 52-week high of $10.53. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.79.

Abacus Global Management (NYSE:ABX) last released its 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 predict that Abacus Global Management, Inc. will post 1.02 EPS for the current year.

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.