Abacus Global Management (NYSE:ABX) Issues Quarterly Earnings Results

Abacus Global Management (NYSE:ABX) announced its quarterly earnings data on Thursday. The company reported $0.23 earnings per share for the quarter, FiscalAI reports. The firm had revenue of $71.90 million during the quarter. Abacus Global Management had a return on equity of 16.90% and a net margin of 5.62%.

Abacus Global Management Trading Down 2.4%

Shares of NYSE:ABX traded down $0.24 during trading on Thursday, hitting $9.86. 998,080 shares of the company’s stock traded hands, compared to its average volume of 552,261. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.93 and a quick ratio of 0.93. Abacus Global Management has a 52 week low of $4.60 and a 52 week high of $10.50. The stock has a market capitalization of $963.91 million, a PE ratio of 123.26 and a beta of -0.14.

Institutional Trading of Abacus Global Management

Several hedge funds have recently bought and sold shares of ABX. Russell Investments Group Ltd. bought a new position in Abacus Global Management in the fourth quarter valued at approximately $30,000. New York State Common Retirement Fund acquired a new stake in shares of Abacus Global Management during the fourth quarter worth $75,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Abacus Global Management during the fourth quarter worth $83,000. Summit Wealth & Retirement Planning Inc. bought a new stake in Abacus Global Management in the 4th quarter valued at $86,000. Finally, Intech Investment Management LLC bought a new stake in Abacus Global Management in the 4th quarter valued at $96,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ABX shares. Zacks Research cut shares of Abacus Global Management from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 28th. Weiss Ratings began coverage on shares of Abacus Global Management in a report on Thursday, January 29th. They set a “hold (c-)” rating for the company. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

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.