Abacus Global Management (NYSE:ABX) Shares Up 3.7% – Time to Buy?

Shares of Abacus Global Management, Inc. (NYSE:ABX) traded up 3.7% during mid-day trading on Thursday . The stock traded as high as $8.03 and last traded at $8.11. 90,023 shares traded hands during trading, a decline of 85% from the average daily volume of 598,529 shares. The stock had previously closed at $7.82.

Key Stories Impacting Abacus Global Management

Here are the key news stories impacting Abacus Global Management this week:

• Positive Sentiment: Abacus Global Management completed a $400 million securitization. The transaction could strengthen liquidity, expand financing capacity and support growth in the company’s longevity-based asset platform. Abacus Global Management Completes Landmark $400 Million Securitization
• Positive Sentiment: Founders Sean McNealy, Matthew Ganovsky and Scott Kirby elected to terminate their Rule 10b5-1 trading plans while retaining substantial ownership. Ending the plans could remove a recurring source of insider-selling overhang and signal continued long-term commitment to ABX. Abacus Founders Elect to Retain Substantial Ownership, Terminate 10b5-1 Trading Plans
• Positive Sentiment: The company’s previously authorized $100 million share-repurchase program could provide additional support for the stock and indicates management believes ABX is undervalued. The authorization covers up to 12.2% of outstanding shares, though purchases are not guaranteed to occur immediately.
• Neutral Sentiment: Analyst sentiment remains moderately favorable. MarketBeat data shows a consensus rating of “Moderate Buy” and an average price target of $12, while ratings range from Strong Buy and Buy to Hold. Piper Sandler, however, maintains a neutral view after reducing its target to $12.
• Negative Sentiment: Major shareholders continued selling shares on September 23. Sean McNealy sold 22,700 shares, Kevin Kirby sold 22,745 and Matthew Ganovsky sold 22,800, generating combined proceeds of approximately $528,000. Each sale was made under a pre-arranged 10b5-1 plan and represented only about 0.18%–0.26% of the seller’s holdings.
• Negative Sentiment: The latest transactions extend a broader pattern of September sales by the three founders. Although they still retain multimillion-share stakes, repeated insider selling can weigh on investor sentiment and add near-term share supply. SEC insider transaction filing

Analyst Ratings Changes

A number of analysts recently issued reports on ABX shares. Weiss Ratings reissued a “hold (c)” rating on shares of Abacus Global Management in a research report on Tuesday, September 8th. Texas Capital raised Abacus Global Management to a “strong-buy” rating in a research report on Tuesday, June 9th. Piper Sandler reduced their price objective on Abacus Global Management from $13.00 to $12.00 and set a “neutral” rating for the company in a research note on Friday, August 7th. Finally, B. Riley Financial reissued a “buy” rating on shares of Abacus Global Management in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $12.00.

Abacus Global Management Trading Up 4.2%

The business’s 50-day moving average is $9.63 and its two-hundred day moving average is $9.50. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market capitalization of $796.50 million, a PE ratio of 29.08 and a beta of 0.06.

Abacus Global Management declared that its Board of Directors has approved a share buyback program on Friday, August 14th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to buy up to 12.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Transactions at Abacus Global Management

In other news, major shareholder Matthew Ganovsky sold 22,800 shares of Abacus Global Management stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $7.74, for a total value of $176,472.00. Following the sale, the insider owned 8,651,148 shares of the company’s stock, valued at $66,959,885.52. The trade was a 0.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Kevin Kirby sold 22,745 shares of the business’s stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $7.74, for a total transaction of $176,046.30. Following the transaction, the insider owned 12,506,060 shares in the company, valued at approximately $96,796,904.40. This trade represents a 0.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 748,011 shares of company stock worth $6,592,002. Company insiders own 46.40% of the company’s stock.

Institutional Investors Weigh In On Abacus Global Management

A number of institutional investors have recently added to or reduced their stakes in the business. Royce & Associates LP acquired a new position in Abacus Global Management during the 4th quarter worth approximately $16,992,000. Alta Fundamental Advisers LLC acquired a new stake in shares of Abacus Global Management in the 4th quarter valued at approximately $9,385,000. Ashford Capital Management Inc. acquired a new stake in shares of Abacus Global Management in the 1st quarter valued at approximately $6,815,000. Kennedy Capital Management LLC purchased a new stake in shares of Abacus Global Management in the fourth quarter valued at approximately $5,342,000. Finally, QTR Family Wealth LLC acquired a new position in Abacus Global Management during the fourth quarter worth $5,110,000.

Abacus Global Management Company Profile

Abacus Global Management, Inc (NYSE: ABX) is an alternative asset management company focused on longevity-related assets, including life insurance policies. Through its platform, the company acquires life insurance policies from policyholders, provides liquidity to policy sellers, and manages portfolios of policies through maturity or other disposition.

The company’s activities include life settlement origination, policy servicing, portfolio management and investment management. Its business is designed to provide institutional and other investors with access to the life settlement market, in which investment returns are linked in part to policy values and the longevity of insured individuals.

Abacus Global Management traces its operating roots to Abacus Life, a life settlement provider established in 2004.