Kennedy Capital Management LLC Acquires New Stake in Abacus Global Management, Inc. $ABX

Kennedy Capital Management LLC acquired a new stake in shares of Abacus Global Management, Inc. (NYSE:ABX) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 624,744 shares of the company’s stock, valued at approximately $5,342,000. Kennedy Capital Management LLC owned approximately 0.64% of Abacus Global Management as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ABX. Alyeska Investment Group L.P. bought a new position in Abacus Global Management during the 4th quarter valued at approximately $17,554,000. Royce & Associates LP bought a new position in Abacus Global Management during the 4th quarter valued at approximately $16,992,000. Goldman Sachs Group Inc. bought a new position in Abacus Global Management during the 4th quarter valued at approximately $10,409,000. Alta Fundamental Advisers LLC bought a new position in Abacus Global Management during the 4th quarter valued at approximately $9,385,000. Finally, CSM Advisors LLC bought a new position in Abacus Global Management during the 4th quarter valued at approximately $8,959,000.

Abacus Global Management Price Performance

Shares of ABX opened at $9.66 on Tuesday. 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 one year low of $4.60 and a one year high of $10.53. The company has a market capitalization of $926.11 million, a price-to-earnings ratio of 24.76 and a beta of 0.09. The business has a fifty day moving average price of $9.02.

Analyst Upgrades and Downgrades

A number of research firms have commented on ABX. Wall Street Zen lowered Abacus Global Management from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Texas Capital upgraded Abacus Global Management to a “strong-buy” rating in a report on Tuesday, June 9th. Piper Sandler lifted their price objective on Abacus Global Management from $9.50 to $10.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Abacus Global Management in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $10.00.

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.