Orchard Capital Management LLC Makes New $2.19 Million Investment in Axos Financial, Inc $AX

Key Points

• Orchard Capital Management initiated a $2.19 million position in Axos Financial during the second quarter, purchasing 22,491 shares. The stock now represents about 2.1% of the firm’s portfolio.
• Institutional investors own approximately 83.79% of Axos Financial, while the shares recently traded at $96.62, with a market capitalization of about $5.5 billion and a P/E ratio of 11.41.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $115.67; recent targets range from $110 to $128, although one director also sold 500 shares for $52,650.

Orchard Capital Management LLC bought a new position in Axos Financial, Inc (NYSE:AX - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 22,491 shares of the company's stock, valued at approximately $2,190,000. Axos Financial comprises about 2.1% of Orchard Capital Management LLC's portfolio, making the stock its 21st largest position.

Several other large investors have also recently modified their holdings of the stock. Eurizon Capital SGR S.p.A. purchased a new stake in Axos Financial during the 4th quarter valued at about $26,000. Basepoint Wealth LLC purchased a new position in Axos Financial in the fourth quarter worth about $28,000. Brown Brothers Harriman & Co. bought a new position in shares of Axos Financial in the third quarter worth approximately $29,000. State of Wyoming purchased a new stake in shares of Axos Financial during the first quarter valued at approximately $30,000. Finally, Torren Management LLC purchased a new stake in shares of Axos Financial during the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 83.79% of the company's stock.

Axos Financial Trading Up 0.7%

Shares of AX stock opened at $96.62 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.24. Axos Financial, Inc has a 12-month low of $74.89 and a 12-month high of $105.74. The stock has a market capitalization of $5.50 billion, a P/E ratio of 11.41 and a beta of 1.22. The firm's 50 day moving average is $97.18 and its 200 day moving average is $92.52.

Analyst Upgrades and Downgrades

AX has been the subject of a number of recent analyst reports. Weiss Ratings upgraded shares of Axos Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, July 1st. Keefe, Bruyette & Woods lifted their target price on Axos Financial from $105.00 to $110.00 and gave the stock a "market perform" rating in a report on Friday, July 31st. DA Davidson set a $121.00 price target on Axos Financial in a research note on Friday, July 31st. Benchmark upped their price target on Axos Financial from $115.00 to $120.00 and gave the company a "buy" rating in a report on Thursday, August 13th. Finally, Needham & Company LLC increased their price objective on Axos Financial from $110.00 to $128.00 and gave the company a "buy" rating in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $115.67.

Insider Activity

In other Axos Financial news, Director Roque A. Santi sold 500 shares of the business's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $105.30, for a total transaction of $52,650.00. Following the completion of the sale, the director directly owned 7,146 shares in the company, valued at $752,473.80. The trade was a 6.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.85% of the stock is currently owned by corporate insiders.

Axos Financial Company 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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