Los Angeles Capital Management LLC Acquires New Holdings in Abacus Global Management, Inc. $ABX

Los Angeles Capital Management LLC bought a new position in shares of Abacus Global Management, Inc. (NYSE:ABX) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 176,610 shares of the company’s stock, valued at approximately $1,510,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Summit Wealth & Retirement Planning Inc. acquired a new position in Abacus Global Management in the 4th quarter valued at approximately $86,000. Intech Investment Management LLC acquired a new position in shares of Abacus Global Management during the fourth quarter worth $96,000. Axxcess Wealth Management LLC bought a new stake in shares of Abacus Global Management in the fourth quarter worth $98,000. World Investment Advisors bought a new stake in shares of Abacus Global Management in the fourth quarter worth $181,000. Finally, AXQ Capital LP acquired a new stake in Abacus Global Management in the fourth quarter valued at $252,000.

Analyst Ratings Changes

Several research analysts recently issued reports on ABX shares. Wall Street Zen lowered Abacus Global Management from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Piper Sandler upped 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. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Abacus Global Management currently has an average rating of “Hold” and a consensus price target of $10.00.

Abacus Global Management Price Performance

Shares of ABX stock opened at $9.14 on Thursday. The firm has a 50 day moving average of $8.93. Abacus Global Management, Inc. has a one year low of $4.60 and a one year high of $10.53. The company has a market capitalization of $876.25 million, a PE ratio of 23.42 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.

Abacus Global Management (NYSE:ABX) last announced its earnings results on Thursday, March 12th. The company reported $0.23 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 business had revenue of $71.90 million for the quarter. As a group, research analysts expect that Abacus Global Management, Inc. will post 1.01 earnings per share for the current year.

Abacus Global Management 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.