Cim Investment Management Inc. Sells 1,049 Shares of Axos Financial, Inc. (NYSE:AX)

Cim Investment Management Inc. lessened its holdings in Axos Financial, Inc. (NYSE:AX) by 19.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,416 shares of the company’s stock after selling 1,049 shares during the period. Cim Investment Management Inc.’s holdings in Axos Financial were worth $252,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Mackenzie Financial Corp purchased a new stake in Axos Financial during the second quarter valued at approximately $201,000. The Manufacturers Life Insurance Company increased its position in shares of Axos Financial by 3.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,866 shares of the company’s stock valued at $1,764,000 after purchasing an additional 888 shares during the last quarter. Millennium Management LLC raised its holdings in Axos Financial by 107.9% during the 2nd quarter. Millennium Management LLC now owns 367,251 shares of the company’s stock valued at $20,988,000 after buying an additional 190,584 shares during the period. Maverick Capital Ltd. lifted its position in Axos Financial by 287.4% in the second quarter. Maverick Capital Ltd. now owns 36,200 shares of the company’s stock worth $2,069,000 after buying an additional 26,855 shares during the last quarter. Finally, Earnest Partners LLC purchased a new position in Axos Financial during the second quarter worth $206,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Analyst Ratings Changes

AX has been the topic of several recent analyst reports. Raymond James increased their target price on shares of Axos Financial from $67.00 to $81.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Wedbush decreased their price objective on shares of Axos Financial from $80.00 to $75.00 and set a “neutral” rating for the company in a research note on Tuesday. Piper Sandler boosted their target price on Axos Financial from $68.00 to $84.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods downgraded Axos Financial from an “outperform” rating to a “market perform” rating and set a $79.00 price target on the stock. in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $79.75.

Axos Financial Price Performance

Axos Financial stock opened at $62.29 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of 8.45 and a beta of 1.40. The firm has a 50-day moving average of $66.76 and a two-hundred day moving average of $59.25. Axos Financial, Inc. has a 1 year low of $32.05 and a 1 year high of $79.15.

Axos Financial (NYSE:AX) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.80. The company had revenue of $484.29 million for the quarter, compared to analysts’ expectations of $296.02 million. Axos Financial had a return on equity of 18.57% and a net margin of 23.96%. During the same quarter in the prior year, the firm earned $1.50 earnings per share. On average, research analysts forecast that Axos Financial, Inc. will post 7.17 earnings per share for the current year.

Insider Buying and Selling

In other Axos Financial news, EVP Andrew J. Micheletti sold 5,197 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $63.13, for a total transaction of $328,086.61. Following the completion of the sale, the executive vice president now owns 424,149 shares in the company, valued at $26,776,526.37. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 4.82% of the stock is owned by insiders.

Axos Financial Company Profile

Axos Financial, Inc, together with its subsidiaries, provides consumer and business banking products in the United States. It operates through two segments, Banking Business and Securities Business. The company offers deposits products, including consumer and business checking, demand, savings, time deposit, money market, zero balance, and insured cash sweep accounts.