Horizon Investments LLC Trims Stake in Axos Financial, Inc $AX

Key Points

• Horizon Investments LLC cut its Axos Financial stake by 95.6% in the fourth quarter, selling 22,566 shares and leaving it with 1,030 shares valued at about $89,000.
• Analyst sentiment remains mixed but positive overall, with an average “Moderate Buy” rating and a consensus price target of $109.40, even as some firms upgraded or downgraded the stock.
• Axos Financial reported mixed quarterly results: EPS of $1.90 missed estimates, while revenue of $392.25 million beat expectations; the stock last traded at $87.03, below its 52-week high of $101.92.

Horizon Investments LLC reduced its position in shares of Axos Financial, Inc (NYSE:AX - Free Report) by 95.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,030 shares of the company's stock after selling 22,566 shares during the quarter. Horizon Investments LLC's holdings in Axos Financial were worth $89,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Horizon Investment Services LLC increased its holdings in Axos Financial by 297.1% during the 3rd quarter. Horizon Investment Services LLC now owns 14,586 shares of the company's stock worth $1,235,000 after purchasing an additional 10,913 shares during the period. American Century Companies Inc. increased its holdings in Axos Financial by 1.5% during the 3rd quarter. American Century Companies Inc. now owns 2,413,512 shares of the company's stock worth $204,304,000 after purchasing an additional 35,391 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Axos Financial by 18.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 330,886 shares of the company's stock valued at $28,010,000 after acquiring an additional 50,902 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Axos Financial by 281.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 40,419 shares of the company's stock valued at $3,386,000 after acquiring an additional 29,833 shares during the period. Finally, SG Americas Securities LLC increased its holdings in shares of Axos Financial by 1,408.9% in the 3rd quarter. SG Americas Securities LLC now owns 22,935 shares of the company's stock valued at $1,941,000 after acquiring an additional 21,415 shares during the period. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AX has been the topic of a number of analyst reports. Raymond James Financial upgraded Axos Financial from an "outperform" rating to a "strong-buy" rating and cut their price target for the company from $110.00 to $100.00 in a report on Tuesday, April 7th. Weiss Ratings upgraded Axos Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, April 24th. Keefe, Bruyette & Woods lifted their price target on Axos Financial from $100.00 to $110.00 and gave the company a "market perform" rating in a report on Friday, January 30th. Zacks Research downgraded Axos Financial from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 8th. Finally, DA Davidson lifted their price target on Axos Financial from $107.50 to $112.00 and gave the company a "buy" rating in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $109.40.

Axos Financial Stock Performance

Shares of AX stock opened at $87.03 on Monday. The stock has a market cap of $4.95 billion, a PE ratio of 10.57 and a beta of 1.30. The business has a 50-day simple moving average of $89.57 and a 200-day simple moving average of $88.28. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.38. Axos Financial, Inc has a 52-week low of $67.50 and a 52-week high of $101.92.

Axos Financial (NYSE:AX - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.13 by ($0.23). The company had revenue of $392.25 million during the quarter, compared to analyst estimates of $372.51 million. Axos Financial had a net margin of 22.53% and a return on equity of 16.48%. During the same period last year, the firm earned $1.81 EPS. On average, equities analysts expect that Axos Financial, Inc will post 8.57 EPS for the current year.

About Axos Financial

Axos Financial, Inc NYSE: AX is a diversified online banking and financial services holding company headquartered in San Diego, California. The firm traces its origins to 1999 with the launch of Bank of Internet USA and rebranded as Axos Financial in December 2018 to reflect an expanded suite of digital offerings. Axos Financial operates through its wholly owned subsidiary, Axos Bank, providing a technology-driven banking platform that serves both retail and commercial clients across the United States.

Through its digital banking platform, Axos Financial delivers a range of deposit products, including checking and savings accounts, money market and certificate of deposit accounts, as well as individual retirement accounts.

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