GAMMA Investing LLC Boosts Stock Position in Axos Financial, Inc. (NYSE:AX)

GAMMA Investing LLC lifted its position in Axos Financial, Inc. (NYSE:AX) by 8,878.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 118,330 shares of the company’s stock after purchasing an additional 117,012 shares during the quarter. GAMMA Investing LLC owned 0.21% of Axos Financial worth $7,635,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AX. Vanguard Group Inc. boosted its holdings in Axos Financial by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 6,129,602 shares of the company’s stock valued at $428,153,000 after acquiring an additional 49,695 shares during the period. American Century Companies Inc. boosted its holdings in Axos Financial by 9.6% during the 4th quarter. American Century Companies Inc. now owns 1,874,779 shares of the company’s stock valued at $130,953,000 after acquiring an additional 163,952 shares during the period. Geode Capital Management LLC boosted its holdings in Axos Financial by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 1,488,259 shares of the company’s stock valued at $103,975,000 after acquiring an additional 43,503 shares during the period. Northern Trust Corp boosted its holdings in Axos Financial by 4.7% during the 4th quarter. Northern Trust Corp now owns 742,837 shares of the company’s stock valued at $51,887,000 after acquiring an additional 33,207 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in Axos Financial by 8.7% during the 4th quarter. Ameriprise Financial Inc. now owns 677,546 shares of the company’s stock valued at $47,330,000 after acquiring an additional 54,238 shares during the period. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Axos Financial Trading Up 2.7%

AX opened at $71.51 on Monday. The business has a 50 day simple moving average of $65.52 and a two-hundred day simple moving average of $69.03. The firm has a market capitalization of $4.03 billion, a price-to-earnings ratio of 9.61 and a beta of 1.29. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.09 and a quick ratio of 1.09. Axos Financial, Inc. has a one year low of $50.93 and a one year high of $88.46.

Axos Financial (NYSE:AX) last announced its earnings results on Wednesday, April 30th. The company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.07. Axos Financial had a return on equity of 18.67% and a net margin of 22.10%. The firm had revenue of $432.72 million during the quarter, compared to analyst estimates of $305.04 million. During the same quarter in the prior year, the company earned $1.91 EPS. Analysts predict that Axos Financial, Inc. will post 7.22 EPS for the current year.

Axos Financial announced that its board has authorized a stock repurchase program on Monday, May 12th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 2.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Piper Sandler dropped their target price on Axos Financial from $84.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday, May 1st. Raymond James restated an “outperform” rating and set a $72.00 target price (down from $80.00) on shares of Axos Financial in a report on Friday, May 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $88.00 price target on shares of Axos Financial in a research report on Thursday, May 1st. Jefferies Financial Group began coverage on Axos Financial in a research report on Wednesday, May 21st. They set a “buy” rating and a $90.00 price target for the company. Finally, DA Davidson lowered their price target on Axos Financial from $88.00 to $84.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Axos Financial has a consensus rating of “Moderate Buy” and an average price target of $82.71.

Insider Transactions at Axos Financial

In other news, Director Paul Grinberg sold 30,000 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $68.09, for a total value of $2,042,700.00. Following the completion of the transaction, the director now owns 113,295 shares of the company’s stock, valued at approximately $7,714,256.55. This represents a 20.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.07% of the company’s stock.

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.