Abacus Global Management (NYSE:ABX) Reaches New 52-Week High – What’s Next?

Shares of Abacus Global Management, Inc. (NYSE:ABX) reached a new 52-week high on Monday . The company traded as high as $9.62 and last traded at $9.57, with a volume of 543346 shares trading hands. The stock had previously closed at $9.13.

Analyst Ratings Changes

A number of brokerages recently issued reports on ABX. Zacks Research cut shares of Abacus Global Management from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 28th. Weiss Ratings assumed coverage on shares of Abacus Global Management in a research report on Thursday, January 29th. They issued a “hold (c-)” rating on the stock. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, Abacus Global Management currently has a consensus rating of “Hold”.

Abacus Global Management Stock Performance

The company has a market capitalization of $970.66 million, a PE ratio of 124.13 and a beta of -0.14. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.93 and a quick ratio of 0.93.

Institutional Trading of Abacus Global Management

Several institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. bought a new stake in Abacus Global Management during the fourth quarter worth about $194,000. Axxcess Wealth Management LLC bought a new stake in shares of Abacus Global Management during the fourth quarter worth about $98,000. Mendon Capital Advisors Corp acquired a new position in Abacus Global Management in the 4th quarter valued at approximately $17,207,000. Zacks Investment Management bought a new position in Abacus Global Management during the 4th quarter worth $184,000. Finally, Millennium Management LLC bought a new stake in Abacus Global Management in the fourth quarter valued at approximately $400,000.

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.