Abacus Global Management Inc (NASDAQ: ABL) is -26.95% lower on its value in year-to-date trading and has touched a low of $5.10 and a high of $12.39 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The ABL stock was last observed hovering at around $6.00 in the last trading session, with the day’s loss setting it -0.28%.
Currently trading at $5.72, the stock is -29.54% and -27.92% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.99 million and changing -4.67% at the moment leaves the stock -31.77% off its SMA200. ABL registered -51.24% loss for a year compared to 6-month gain of -27.78%. The firm has a 50-day simple moving average (SMA 50) of $7.9351 and a 200-day simple moving average (SMA200) of $8.383575.
The stock witnessed a -30.24% loss in the last 1 month and extending the period to 3 months gives it a -24.14%, and is -25.81% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 11.29% over the week and 5.71% over the month.
Abacus Global Management Inc (ABL) has around 157 employees, a market worth around $546.93M and $136.92M in sales. Fwd P/E is 5.97. Profit margin for the company is -13.13%. Distance from 52-week low is 12.16% and -53.84% from its 52-week high. The company has generated returns on investments over the last 12 months (-2.65%).
The EPS is expected to grow by 15.19% this year
93.0 institutions hold shares in Abacus Global Management Inc (ABL), with institutional investors hold 78.04% of the company’s shares. The shares outstanding are 95.80M, and float is at 34.11M with Short Float at 4.22%. Institutions hold 28.63% of the Float.
The top institutional shareholder in the company is ALLSPRING GLOBAL INVESTMENTS HOLDINGS, LLC with over 1.15 million shares valued at $$9.91 million. The investor’s holdings represent 1.7942 of the ABL Shares outstanding. As of 2024-06-30, the second largest holder is ALYESKA INVESTMENT GROUP, L.P. with 1.05 million shares valued at $$9.08 million to account for 1.6446 of the shares outstanding. The other top investors are GOLDMAN SACHS GROUP INC which holds 0.94 million shares representing 1.4771 and valued at over $$8.16 million, while PRINCIPAL FINANCIAL GROUP INC holds 1.4675 of the shares totaling 0.94 million with a market value of $$8.1 million.
Abacus Global Management Inc (ABL) Insider Activity
The most recent transaction is an insider sale by McNealy Sean, the company’s Co-Founder and President. SEC filings show that McNealy Sean sold 75,800 shares of the company’s common stock on Dec 20 ’24 at a price of $8.00 per share for a total of $0.61 million. Following the sale, the insider now owns 12.36 million shares.
Abacus Global Management Inc disclosed in a document filed with the SEC on Dec 20 ’24 that Ganovsky Matthew (Co-Founder and President) sold a total of 75,800 shares of the company’s common stock. The trade occurred on Dec 20 ’24 and was made at $8.00 per share for $0.61 million. Following the transaction, the insider now directly holds 10.01 million shares of the ABL stock.
Still, SEC filings show that on Dec 20 ’24, Kirby Kevin Scott (Co-Founder and President) disposed off 75,800 shares at an average price of $8.00 for $0.61 million. The insider now directly holds 12,361,200 shares of Abacus Global Management Inc (ABL).
