Los Angeles Capital Management LLC Makes New Investment in Abacus Global Management, Inc. $ABX

Los Angeles Capital Management LLC acquired a new position in shares of Abacus Global Management, Inc. (NYSE:ABX) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 176,610 shares of the company’s stock, valued at approximately $1,510,000. Los Angeles Capital Management LLC owned approximately 0.18% of Abacus Global Management as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Summit Wealth & Retirement Planning Inc. acquired a new stake in Abacus Global Management during the fourth quarter worth about $86,000. Intech Investment Management LLC acquired a new stake in Abacus Global Management during the fourth quarter worth about $96,000. Axxcess Wealth Management LLC acquired a new stake in Abacus Global Management during the fourth quarter worth about $98,000. World Investment Advisors acquired a new stake in Abacus Global Management during the fourth quarter worth about $181,000. Finally, AXQ Capital LP acquired a new stake in Abacus Global Management during the fourth quarter worth about $252,000.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wall Street Zen downgraded shares of Abacus Global Management from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Piper Sandler increased their price objective on shares of Abacus Global Management from $9.50 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $10.00.

Abacus Global Management Stock Performance

Shares of ABX opened at $9.14 on Thursday. 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, Inc. has a 52 week low of $4.60 and a 52 week high of $10.53. The company has a market cap of $876.25 million, a PE ratio of 23.42 and a beta of 0.09. The firm has a fifty day moving average price of $8.93.

Abacus Global Management (NYSE:ABX) last issued its quarterly earnings data 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 EPS for the current year.

About Abacus Global Management

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.