AlphaQuest LLC Boosts Stock Position in Axos Financial, Inc $AX

Key Points

• AlphaQuest LLC significantly increased its stake in AXOS FINANCIAL, raising it by 261.8% during the first quarter, now holding 14,367 shares valued at approximately $927,000.
• AXOS FINANCIAL reported a 10.5% increase in quarterly revenue year-over-year, earning $1.94 EPS which surpassed the consensus estimate by $0.12.
• The company announced a $100 million stock buyback program, indicating management's belief that its shares are currently undervalued.

AlphaQuest LLC boosted its position in shares of Axos Financial, Inc (NYSE:AX - Free Report) by 261.8% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 14,367 shares of the company's stock after acquiring an additional 10,396 shares during the quarter. AlphaQuest LLC's holdings in Axos Financial were worth $927,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its position in Axos Financial by 94.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 8,017 shares of the company's stock worth $517,000 after acquiring an additional 3,901 shares during the period. NewEdge Advisors LLC lifted its position in Axos Financial by 1,700.0% during the 4th quarter. NewEdge Advisors LLC now owns 900 shares of the company's stock worth $63,000 after acquiring an additional 850 shares during the period. GAMMA Investing LLC lifted its position in Axos Financial by 39.2% during the 1st quarter. GAMMA Investing LLC now owns 1,834 shares of the company's stock worth $118,000 after acquiring an additional 516 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Axos Financial by 16.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 50,402 shares of the company's stock valued at $3,252,000 after buying an additional 6,957 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Axos Financial in the 1st quarter valued at about $750,000. Institutional investors and hedge funds own 83.79% of the company's stock.

Axos Financial Price Performance

Shares of Axos Financial stock traded down $0.94 during mid-day trading on Thursday, reaching $91.38. 279,973 shares of the stock traded hands, compared to its average volume of 388,163. The business has a 50-day moving average of $83.98 and a 200 day moving average of $72.32. Axos Financial, Inc has a fifty-two week low of $54.46 and a fifty-two week high of $92.99. The stock has a market capitalization of $5.16 billion, a PE ratio of 12.25 and a beta of 1.32. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.17.

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, beating analysts' consensus estimates of $1.82 by $0.12. Axos Financial had a return on equity of 17.11% and a net margin of 22.24%.The business had revenue of $321.45 million during the quarter, compared to analysts' expectations of $311.73 million. During the same quarter in the prior year, the firm earned $1.83 earnings per share. The business's revenue was up 10.5% compared to the same quarter last year. On average, analysts predict that Axos Financial, Inc will post 7.22 EPS for the current year.

Axos Financial announced that its board has initiated a share repurchase plan on Monday, May 12th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to purchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Raymond James Financial reissued an "outperform" rating and issued a $95.00 price objective (up previously from $90.00) on shares of Axos Financial in a report on Thursday, July 31st. Keefe, Bruyette & Woods boosted their price objective on Axos Financial from $90.00 to $94.00 and gave the company a "market perform" rating in a report on Thursday, July 31st. Needham & Company LLC boosted their price objective on Axos Financial from $92.00 to $102.00 and gave the company a "buy" rating in a report on Thursday, July 31st. DA Davidson boosted their price objective on Axos Financial from $96.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Finally, Wall Street Zen raised Axos Financial from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $90.86.

Insider Activity at Axos Financial

In other Axos Financial news, EVP Andrew J. Micheletti sold 13,960 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 67,460 shares of the company's stock, valued at $5,759,734.80. This represents a 17.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.07% of the stock is owned by insiders.

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.