Kennedy Capital Management LLC Grows Stake in Axos Financial, Inc $AX

Key Points

• Kennedy Capital Management increased its Axos Financial stake by 12.3% in the fourth quarter, bringing its holdings to 308,935 shares worth about $26.6 million.
• Several other institutional investors also boosted positions, and 83.79% of Axos Financial shares are owned by hedge funds and other institutions.
• Axos Financial reported Q1 EPS of $1.90, missing estimates, while analysts currently have a Moderate Buy consensus with an average price target of $109.40.

Kennedy Capital Management LLC grew its position in shares of Axos Financial, Inc (NYSE:AX - Free Report) by 12.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 308,935 shares of the company's stock after purchasing an additional 33,854 shares during the period. Axos Financial makes up 0.6% of Kennedy Capital Management LLC's portfolio, making the stock its 23rd biggest holding. Kennedy Capital Management LLC owned about 0.55% of Axos Financial worth $26,618,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AX. Franklin Resources Inc. grew its position in shares of Axos Financial by 198.0% during the 3rd quarter. Franklin Resources Inc. now owns 414,178 shares of the company's stock valued at $35,060,000 after purchasing an additional 275,191 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Axos Financial by 56.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 371,086 shares of the company's stock valued at $31,973,000 after purchasing an additional 133,529 shares in the last quarter. UBS Group AG grew its position in Axos Financial by 65.7% in the third quarter. UBS Group AG now owns 267,312 shares of the company's stock worth $22,628,000 after acquiring an additional 106,003 shares in the last quarter. Cerity Partners LLC grew its position in Axos Financial by 712.9% in the fourth quarter. Cerity Partners LLC now owns 112,014 shares of the company's stock worth $9,651,000 after acquiring an additional 98,235 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Axos Financial in the second quarter worth $6,252,000. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Michael James Watson sold 1,653 shares of the stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $83.77, for a total value of $138,471.81. Following the completion of the transaction, the executive vice president directly owned 4,592 shares of the company's stock, valued at $384,671.84. This represents a 26.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Roque A. Santi sold 500 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $87.77, for a total transaction of $43,885.00. Following the completion of the transaction, the director directly owned 7,646 shares of the company's stock, valued at approximately $671,089.42. The trade was a 6.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 4.85% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $110.00 target price on shares of Axos Financial in a research report on Monday, March 16th. Zacks Research lowered shares of Axos Financial from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 8th. Weiss Ratings lowered shares of Axos Financial from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, May 14th. Finally, Raymond James Financial upgraded shares of Axos Financial from an "outperform" rating to a "strong-buy" rating and cut their target price for the stock from $110.00 to $100.00 in a research report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $109.40.

Axos Financial Stock Performance

Shares of NYSE:AX opened at $90.21 on Friday. The company has a market cap of $5.13 billion, a price-to-earnings ratio of 10.96 and a beta of 1.24. The company has a 50-day moving average price of $89.69 and a 200-day moving average price of $89.51. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.38. Axos Financial, Inc has a 12 month low of $69.25 and a 12 month 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 EPS for the quarter, missing the consensus estimate of $2.13 by ($0.23). The firm had revenue of $392.25 million for the quarter, compared to the consensus estimate 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 company posted $1.81 earnings per share. As a group, equities analysts anticipate that Axos Financial, Inc will post 8.49 EPS for the current year.

Axos Financial Profile

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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