Overview

• US alternative asset manager's Q1 adjusted EBITDA grew 33% yr/yr, missing analyst expectations

• Adjusted net income for Q1 rose 17% yr/yr; company raised full-year 2026 guidance

• Board approved $20 mln share buyback in January

Outlook

• Abacus raises full-year 2026 adjusted net income guidance to $100–$106 mln

• Company issues Q2 adjusted net income guidance of $24–$26 mln

• Abacus expects full-year 2026 adjusted EPS of $1.00–$1.05

Result Drivers

• AUM GROWTH - Gross assets under management reached $3.6 bln, with longevity income fund AUM nearly quadrupling yr/yr to about $1 bln, driven by strong capital inflows

• CAPITAL DEPLOYMENT - Origination capital deployment rose 30% yr/yr to $163.6 mln, supporting portfolio growth

• INSTITUTIONAL DEMAND - Co said institutional demand for mortality-driven, uncorrelated assets supported results amid current macro environment

Company press release: ID:nGNX9kjHWM

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the multiline insurance & brokers peer group is "buy"

• Wall Street's median 12-month price target for Abacus Global Management Inc is $13.75, about 45.7% above its May 6 closing price of $9.44

• The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 8 three months ago

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