Added to YB: 2026-09-24
Pitch date: 2026-09-18
ABX [neutral]
Abacus Global Management, Inc.
-12.25%
current return
Author Info
Sung Capital is an alternative asset management firm run by Oliver Sung. We invest capital for families, registered investment advisors, and accredited investors through a private investment fund. We pick underpriced stocks, usually in pockets of the market where large pools of capital (funds and institutions) can’t or won’t invest, but we flip every stone. We pick stocks only, use no leverage, and require a significant margin of safety in every investment. Sign up for the newsletter.
Company Info
Abacus Global Management, Inc. operates as an alternative asset manager and market maker in the United States, Luxembourg, and internationally.
Market Cap
$857.6M
Pitch Price
$9.14
Price Target
N/A
Dividend
2.28%
EV/EBITDA
10.23
P/E
32.32
EV/Sales
4.43
Sector
Insurance
Category
N/A
Abacus Global Management, Inc. - $ABX
ABX (quick overview): Abacus’s growth story rests on policy gains and a shift to fee income, but most policy sales now go to unconsolidated related-party funds: in Q1 2026 they generated 26.4% average gains versus 10% externally, and those transactions now inform carrying values. At 25x GAAP earnings and 7.6x tangible book, with $331 million of debt against $23 million of cash, circular pricing, conflicts and leverage outweigh the real origination opportunity.
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