abacus global management announces $20 million stock buyback plan

Abacus Global Management, Inc. (NASDAQ:ABL) has announced a $20 million stock repurchase program, as revealed in a recent SEC filing. The program, approved by the company’s Board of Directors, will be effective for a period of eighteen months. This decision comes as the stock has declined 44% over the past year, with shares currently trading at $6. The buyback program allows the company to repurchase its shares, potentially reducing the number of outstanding shares and increasing the value of remaining shares.

The announcement was made on Thursday and is part of the company’s ongoing efforts to manage its capital structure and enhance shareholder value. According to InvestingPro data, the company faces some financial challenges with short-term obligations exceeding liquid assets. Abacus Global Management, based in Orlando, Florida, operates in the investment advice sector and is classified under the Standard Industrial Classification code 6282.

The company, formerly known as Abacus Life, Inc., changed its name in July 2023. Its securities, including common stock and warrants, are traded on the NASDAQ Capital Market under the symbols ABL and ABLLW, respectively. Additionally, the company has 9.875% Fixed Rate Senior Notes due in 2028, traded under the symbol ABLLL.

This information is based on a press release statement contained in the company’s 8-K filing with the Securities and Exchange Commission.

In other recent news, Abacus Global Management reported a significant surge in revenue for the first quarter of 2025, with figures more than doubling to $44.1 million compared to the same period last year. The company’s adjusted net income also saw a substantial increase of 158%, driven by strategic initiatives and expanded product offerings. Amid these financial highlights, Piper Sandler analysts reaffirmed their Overweight rating on Abacus Life, maintaining a $12.00 price target despite a critical short report that questioned the company’s asset valuation practices. The short report alleged that Abacus Life has been overvaluing its life settlement assets, but the company has refuted these claims, citing its audited returns and long-standing industry relationships.

Additionally, Abacus Global Management announced adjustments to executive compensation, with salary increases and new performance-based incentives for top executives, aligning their interests with company performance. The firm also emphasized its unique position as the only publicly traded entity in its market segment, subjecting it to higher regulatory scrutiny. Abacus plans to release a detailed rebuttal to the short seller’s claims and is considering legal action against those responsible for the attack. As the company navigates these developments, it remains focused on maintaining its growth trajectory and expanding its market presence.

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