Advantage Alpha Capital Partners LP Sells 5,150 Shares of AXOS FINANCIAL, INC $AX

Key Points

• Advantage Alpha Capital Partners LP has significantly reduced its stake in Axos Financial, Inc by 60.8%, selling 5,150 shares and now owning only 3,321 shares valued at $214,000.
• Multiple institutional investors have increased their holdings in Axos Financial, with New York State Common Retirement Fund acquiring an additional 181 shares and boosting its stake by 1.1% during the first quarter.
• Analysts maintain a Moderate Buy consensus rating for Axos Financial, with various price targets set between $80.00 and $102.00 after the firm reported a better-than-expected earnings per share of $1.94.

Advantage Alpha Capital Partners LP trimmed its position in AXOS FINANCIAL, INC (NYSE:AX - Free Report) by 60.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,321 shares of the company's stock after selling 5,150 shares during the quarter. Advantage Alpha Capital Partners LP's holdings in AXOS FINANCIAL were worth $214,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of AX. Envestnet Asset Management Inc. raised its stake in shares of AXOS FINANCIAL by 19.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 43,445 shares of the company's stock valued at $3,035,000 after purchasing an additional 7,203 shares in the last quarter. Mariner LLC raised its stake in shares of AXOS FINANCIAL by 9.3% in the fourth quarter. Mariner LLC now owns 6,403 shares of the company's stock valued at $447,000 after purchasing an additional 545 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of AXOS FINANCIAL by 1,700.0% in the fourth quarter. NewEdge Advisors LLC now owns 900 shares of the company's stock valued at $63,000 after purchasing an additional 850 shares in the last quarter. First Trust Advisors LP raised its stake in shares of AXOS FINANCIAL by 143.0% in the fourth quarter. First Trust Advisors LP now owns 139,114 shares of the company's stock valued at $9,717,000 after purchasing an additional 81,861 shares in the last quarter. Finally, MetLife Investment Management LLC raised its stake in shares of AXOS FINANCIAL by 4.6% in the fourth quarter. MetLife Investment Management LLC now owns 32,968 shares of the company's stock valued at $2,303,000 after purchasing an additional 1,450 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

AXOS FINANCIAL Price Performance

Shares of AX stock traded down $0.68 during trading hours on Monday, hitting $90.06. 408,278 shares of the company's stock were exchanged, compared to its average volume of 373,307. The stock's 50-day moving average is $83.11 and its 200-day moving average is $72.05. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market cap of $5.09 billion, a price-to-earnings ratio of 12.07 and a beta of 1.32. AXOS FINANCIAL, INC has a 52 week low of $54.46 and a 52 week high of $91.17.

AXOS FINANCIAL (NYSE:AX - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.94 EPS for the quarter, topping the consensus estimate of $1.82 by $0.12. The company had revenue of $321.45 million for the quarter, compared to analysts' expectations of $311.73 million. AXOS FINANCIAL had a return on equity of 17.11% and a net margin of 22.24%.The business's revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.83 earnings per share. As a group, research analysts forecast that AXOS FINANCIAL, INC will post 7.22 EPS for the current year.

AXOS FINANCIAL announced that its Board of Directors has approved a stock repurchase program on Monday, May 12th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to buy up to 2.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AX. Keefe, Bruyette & Woods upped their target price on AXOS FINANCIAL from $90.00 to $94.00 and gave the company a "market perform" rating in a research note on Thursday, July 31st. Needham & Company LLC increased their price objective on AXOS FINANCIAL from $92.00 to $102.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Wall Street Zen upgraded AXOS FINANCIAL from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Jefferies Financial Group assumed coverage on AXOS FINANCIAL in a research note on Wednesday, May 21st. They set a "buy" rating and a $90.00 price objective for the company. Finally, Piper Sandler dropped their price objective on AXOS FINANCIAL from $84.00 to $80.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, AXOS FINANCIAL presently has a consensus rating of "Moderate Buy" and an average price target of $90.86.

Insider Activity at AXOS FINANCIAL

In other news, EVP Andrew J. Micheletti sold 13,960 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $85.38, for a total transaction of $1,191,904.80. Following the sale, the executive vice president owned 67,460 shares in the company, valued at approximately $5,759,734.80. This represents a 17.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.