Mendon Capital Advisors Corp Sells 63,179 Shares of Abacus Global Management, Inc. $ABX

Mendon Capital Advisors Corp trimmed its holdings in Abacus Global Management, Inc. (NYSE:ABX – Free Report) by 3.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,949,321 shares of the company’s stock after selling 63,179 shares during the quarter. Abacus Global Management accounts for approximately 4.5% of Mendon Capital Advisors Corp’s investment portfolio, making the stock its 4th biggest holding. Mendon Capital Advisors Corp owned 2.02% of Abacus Global Management worth $15,361,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Russell Investments Group Ltd. purchased a new stake in shares of Abacus Global Management in the fourth quarter valued at about $30,000. New York State Common Retirement Fund acquired a new position in Abacus Global Management during the fourth quarter worth approximately $75,000. Police & Firemen s Retirement System of New Jersey acquired a new position in Abacus Global Management in the 4th quarter valued at $83,000. Summit Wealth & Retirement Planning Inc. acquired a new position in Abacus Global Management during the fourth quarter worth about $86,000. Finally, Intech Investment Management LLC purchased a new stake in Abacus Global Management in the 4th quarter worth approximately $96,000.

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Abacus Global Management Stock Performance

ABX opened at $10.38 on Monday. The stock’s fifty day simple moving average is $9.93. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.79. The firm has a market cap of $995.65 million, a price-to-earnings ratio of 26.62 and a beta of 0.06. Abacus Global Management, Inc. has a 52 week low of $5.00 and a 52 week high of $12.44.

Wall Street Analyst Weigh In

ABX has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of Abacus Global Management from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Abacus Global Management in a report on Thursday, June 11th. Piper Sandler lifted their price target on shares of Abacus Global Management from $10.00 to $13.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Finally, Texas Capital raised shares of Abacus Global Management to a “strong-buy” rating in a research report on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Abacus Global Management has an average rating of “Moderate Buy” and an average price target of $13.00.

Read Our Latest Stock Report on Abacus Global Management

Abacus Global Management Profile

(Free Report)

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.

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