Alta Fundamental Advisers LLC Acquires Shares of 1,097,639 Abacus Global Management, Inc. $ABX

Alta Fundamental Advisers LLC acquired a new stake in Abacus Global Management, Inc. (NYSE:ABX) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 1,097,639 shares of the company’s stock, valued at approximately $9,385,000. Abacus Global Management comprises approximately 4.3% of Alta Fundamental Advisers LLC’s holdings, making the stock its 10th largest holding.

Other hedge funds have also recently bought and sold shares of the company. Summit Wealth & Retirement Planning Inc. acquired a new position in shares of Abacus Global Management in the 4th quarter valued at $86,000. Intech Investment Management LLC acquired a new position in shares of Abacus Global Management in the 4th quarter valued at $96,000. Axxcess Wealth Management LLC acquired a new position in shares of Abacus Global Management in the 4th quarter valued at $98,000. World Investment Advisors acquired a new position in shares of Abacus Global Management in the 4th quarter valued at $181,000. Finally, AXQ Capital LP acquired a new position in shares of Abacus Global Management in the 4th quarter valued at $252,000.

Analyst Ratings Changes

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

Abacus Global Management Trading Up 6.6%

Shares of Abacus Global Management stock opened at $8.85 on Friday. The firm has a market cap of $848.62 million, a P/E ratio of 22.68 and a beta of 0.09. Abacus Global Management, Inc. has a 12 month low of $4.60 and a 12 month high of $10.53. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.91 and a quick ratio of 1.91. The business’s fifty day simple moving average is $8.89.

Abacus Global Management (NYSE:ABX) last issued its quarterly earnings data on Thursday, March 12th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.20 by $0.03. The business had revenue of $71.90 million for the quarter. Abacus Global Management had a return on equity of 20.02% and a net margin of 15.63%. Analysts predict that Abacus Global Management, Inc. will post 1.01 EPS for the current fiscal 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.