Abacus Global jumps after unveiling $100 million buyback plan - ABX News | RalliesAbacus Global jumps after unveiling $100 million buyback plan
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ABX• Valuation and analyst sentiment
- ABX had 97.8 million outstanding shares for a $833 million market cap as of Thursday's close
- 6 of 7 brokerages rate the stock "buy" and 1 "hold"; median PT $14, according to data compiled by LSEG
- As of the last close, ABX was about flat year to date
Shares rise on new repurchase authorization
- Abacus Global Management's ABX.N shares jump 10.8% to $9.44
- Alternative asset management firm late Thursday unveiled a $100 million buyback program, commencing Monday
- Authorization builds on roughly $80 million of ABX stock repurchased under prior buyback programs since December 2023
- Buybacks expected to be funded through free cash flow and cash on hand, among other avenues
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