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

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

Other equities research analysts have also issued research reports about the company. Wall Street Zen lowered Abacus Global Management from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Piper Sandler lifted their target price on Abacus Global Management from $9.50 to $10.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $10.00.

Abacus Global Management Trading Up 2.2%

Shares of Abacus Global Management stock opened at $9.14 on Tuesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.91 and a current ratio of 1.91. The company’s fifty day moving average price is $8.93. The stock has a market capitalization of $876.25 million, a price-to-earnings ratio of 23.42 and a beta of 0.09. Abacus Global Management has a 12 month low of $4.60 and a 12 month high of $10.53.

Abacus Global Management (NYSE:ABX) last posted its earnings results on Thursday, March 12th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $71.90 million for the quarter. Analysts forecast that Abacus Global Management will post 1.01 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ABX. Citizens Financial Group Inc. RI acquired a new position in shares of Abacus Global Management during the 4th quarter worth approximately $889,000. Summit Wealth & Retirement Planning Inc. acquired a new position in shares of Abacus Global Management during the 4th quarter worth approximately $86,000. Pacific Ridge Capital Partners LLC acquired a new position in shares of Abacus Global Management during the 4th quarter worth approximately $962,000. World Investment Advisors acquired a new position in shares of Abacus Global Management during the 4th quarter worth approximately $181,000. Finally, Axxcess Wealth Management LLC acquired a new position in shares of Abacus Global Management during the 4th quarter worth approximately $98,000.

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.