Abacus Global jumps after unveiling $100 million buyback plan
14/08/2026 15:04
BUZZ-Abacus Global jumps after unveiling $100 million buyback plan ** Abacus Global Management's ABX.N shares jump 10.8% to $9.44
** Alternative asset management firm late Thursday unveiled $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
** ABX had 97.8 million outstanding shares for $833 million market cap as of Thursday's close
** 6 of 7 brokerages rate the stock "buy" and 1 "hold"; median PT $14 - data compiled by LSEG
** As of last close, ABX about flat YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
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Abacus Global jumps after unveiling $100 million buyback plan