Brevan Howard Capital Management LP Takes $384,000 Position in Axos Financial, Inc. (NYSE:AX)

Brevan Howard Capital Management LP acquired a new position in shares of Axos Financial, Inc. (NYSE:AX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 5,500 shares of the company's stock, valued at approximately $384,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AX. Heck Capital Advisors LLC acquired a new position in shares of Axos Financial in the 4th quarter valued at $35,000. Kestra Investment Management LLC acquired a new position in shares of Axos Financial in the 4th quarter valued at $52,000. NewEdge Advisors LLC increased its holdings in shares of Axos Financial by 1,700.0% in the 4th quarter. NewEdge Advisors LLC now owns 900 shares of the company's stock valued at $63,000 after acquiring an additional 850 shares during the period. R Squared Ltd purchased a new position in Axos Financial in the 4th quarter valued at $66,000. Finally, SRS Capital Advisors Inc. grew its position in Axos Financial by 238.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,097 shares of the company's stock valued at $77,000 after buying an additional 773 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on AX shares. Needham & Company LLC reiterated a "buy" rating and issued a $88.00 price objective on shares of Axos Financial in a research report on Thursday, May 1st. Raymond James reiterated an "outperform" rating and issued a $72.00 price objective (down from $80.00) on shares of Axos Financial in a research report on Friday, May 2nd. DA Davidson lowered their price objective on shares of Axos Financial from $88.00 to $84.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Piper Sandler lowered their price objective on shares of Axos Financial from $84.00 to $80.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Axos Financial from $91.00 to $90.00 and set a "market perform" rating on the stock in a research report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Axos Financial presently has an average rating of "Moderate Buy" and an average target price of $81.50.

Insider Activity at Axos Financial

In other Axos Financial news, Director Paul Grinberg sold 30,000 shares of the company's 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 in the company, valued at $7,714,256.55. This represents a 20.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sara Wardell-Smith purchased 3,000 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was bought at an average price of $64.73 per share, with a total value of $194,190.00. Following the acquisition, the director now owns 10,250 shares in the company, valued at $663,482.50. This trade represents a 41.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. 5.07% of the stock is currently owned by corporate insiders.

Axos Financial Price Performance

Shares of NYSE AX traded down $0.55 during trading on Friday, hitting $72.18. 67,933 shares of the company were exchanged, compared to its average volume of 518,392. The company has a market cap of $4.07 billion, a price-to-earnings ratio of 9.71 and a beta of 1.25. Axos Financial, Inc. has a 1 year low of $44.10 and a 1 year high of $88.46. The firm's fifty day moving average price is $63.47 and its 200 day moving average price is $69.76. 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 (NYSE:AX - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.74 by $0.07. Axos Financial had a net margin of 22.10% and a return on equity of 18.67%. The business had revenue of $432.72 million for the quarter, compared to analyst estimates of $305.04 million. During the same period in the previous year, the firm earned $1.91 EPS. On average, sell-side analysts expect that Axos Financial, Inc. will post 7.22 earnings per share for the current fiscal year.

Axos Financial declared that its board has authorized a share buyback program on Monday, May 12th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 2.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

About Axos Financial

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.