Rafferty Asset Management LLC Has $4.16 Million Position in Axos Financial, Inc $AX

Key Points

• Rafferty Asset Management LLC reduced its position in Axos Financial by 35.1% in Q1, owning 64,398 shares worth approximately $4.16 million after selling 34,903 shares.
• Axos Financial's recent quarterly earnings surpassed expectations, reporting $1.94 EPS against a consensus estimate of $1.82, with revenues increasing by 10.5% year-over-year to $321.45 million.
• Analysts have raised price targets for Axos Financial, with many assigning a "Moderate Buy" rating and an average price target of $90.86, suggesting growth potential despite recent downward movements in stock price.

Rafferty Asset Management LLC decreased its stake in Axos Financial, Inc (NYSE:AX - Free Report) by 35.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 64,398 shares of the company's stock after selling 34,903 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.11% of Axos Financial worth $4,155,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AX. Nuveen LLC purchased a new stake in Axos Financial in the 1st quarter worth approximately $35,240,000. American Century Companies Inc. lifted its position in Axos Financial by 14.7% in the 1st quarter. American Century Companies Inc. now owns 2,151,229 shares of the company's stock worth $138,797,000 after buying an additional 276,450 shares in the last quarter. Voss Capital LP purchased a new stake in Axos Financial in the 1st quarter worth approximately $13,401,000. GAMMA Investing LLC lifted its position in Axos Financial by 8,878.0% in the 1st quarter. GAMMA Investing LLC now owns 118,330 shares of the company's stock worth $7,635,000 after buying an additional 117,012 shares in the last quarter. Finally, Boston Partners lifted its position in Axos Financial by 18.2% in the 1st quarter. Boston Partners now owns 504,815 shares of the company's stock worth $31,191,000 after buying an additional 77,730 shares in the last quarter. Hedge funds and other institutional investors own 83.79% of the company's stock.

Axos Financial Stock Performance

NYSE:AX traded down $0.14 during midday trading on Wednesday, reaching $89.88. The stock had a trading volume of 61,302 shares, compared to its average volume of 385,313. Axos Financial, Inc has a 1-year low of $54.46 and a 1-year high of $92.99. The firm's fifty day simple moving average is $85.39 and its 200-day simple moving average is $72.89. 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 capitalization of $5.08 billion, a P/E ratio of 12.06 and a beta of 1.32.

Axos Financial (NYSE:AX - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.82 by $0.12. Axos Financial had a net margin of 22.24% and a return on equity of 17.11%. The business had revenue of $321.45 million for the quarter, compared to analyst estimates of $311.73 million. During the same period last year, the business posted $1.83 EPS. Axos Financial's revenue was up 10.5% compared to the same quarter last year. On average, equities research analysts forecast that Axos Financial, Inc will post 7.22 EPS for the current fiscal year.

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on AX shares. Wall Street Zen upgraded shares of Axos Financial from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. DA Davidson increased their price target on shares of Axos Financial from $96.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Jefferies Financial Group started coverage on shares of Axos Financial in a research note on Wednesday, May 21st. They set a "buy" rating and a $90.00 price target on the stock. Raymond James Financial restated an "outperform" rating and set a $95.00 price target (up previously from $90.00) on shares of Axos Financial in a research note on Thursday, July 31st. Finally, Keefe, Bruyette & Woods increased their price target on shares of Axos Financial from $90.00 to $94.00 and gave the stock a "market perform" rating in a research note on Thursday, July 31st. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Axos Financial currently has an average rating of "Moderate Buy" and an average target price of $90.86.

Insiders Place Their Bets

In other Axos Financial news, EVP Andrew J. Micheletti sold 13,960 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $85.38, for a total value of $1,191,904.80. Following the completion of the sale, the executive vice president directly owned 67,460 shares of the company's stock, valued at $5,759,734.80. This represents a 17.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.07% of the stock is currently owned by company insiders.

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.