Fred Alger Management LLC Makes New $494,000 Investment in Axos Financial, Inc. (NYSE:AX)

Fred Alger Management LLC acquired a new stake in Axos Financial, Inc. (NYSE:AX - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 7,070 shares of the company's stock, valued at approximately $494,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in AX. Heck Capital Advisors LLC purchased a new position in shares of Axos Financial during the 4th quarter worth approximately $35,000. Kestra Investment Management LLC purchased a new position in Axos Financial in the 4th quarter valued at approximately $52,000. NewEdge Advisors LLC boosted its position in Axos Financial by 1,700.0% in the 4th quarter. NewEdge Advisors LLC now owns 900 shares of the company's stock valued at $63,000 after buying an additional 850 shares during the period. R Squared Ltd purchased a new position in Axos Financial in the 4th quarter valued at approximately $66,000. Finally, SRS Capital Advisors Inc. boosted its position in Axos Financial by 238.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,097 shares of the company's stock valued at $77,000 after buying an additional 773 shares during the period. Institutional investors and hedge funds own 83.79% of the company's stock.

Insider Buying and Selling at Axos Financial

In other Axos Financial news, Director Paul Grinberg sold 30,000 shares of Axos Financial stock in a transaction on Monday, May 5th. The shares were sold at an average price of $68.09, for a total value of $2,042,700.00. Following the transaction, the director now directly owns 113,295 shares in the company, valued at approximately $7,714,256.55. The trade was a 20.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Sara Wardell-Smith purchased 3,000 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average price of $64.73 per share, for a total transaction of $194,190.00. Following the completion of the purchase, the director now owns 10,250 shares of the company's stock, valued at approximately $663,482.50. This trade represents a 41.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. 5.07% of the stock is currently owned by company insiders.

Axos Financial Stock Performance

AX traded down $0.29 on Friday, reaching $72.44. The company had a trading volume of 125,105 shares, compared to its average volume of 416,896. Axos Financial, Inc. has a 1 year low of $44.10 and a 1 year high of $88.46. The stock has a market capitalization of $4.08 billion, a PE ratio of 9.73 and a beta of 1.25. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.20. The stock has a 50-day moving average price of $63.47 and a 200-day moving average price of $69.76.

Axos Financial (NYSE:AX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $1.81 EPS for the quarter, beating analysts' consensus estimates of $1.74 by $0.07. The company had revenue of $432.72 million for the quarter, compared to analyst estimates of $305.04 million. Axos Financial had a net margin of 22.10% and a return on equity of 18.67%. During the same period in the previous year, the business posted $1.91 earnings per share. As a group, research analysts forecast that Axos Financial, Inc. will post 7.22 EPS for the current fiscal year.

Axos Financial declared that its Board of Directors has initiated a share repurchase program on Monday, May 12th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 2.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Keefe, Bruyette & Woods decreased their price target on shares of Axos Financial from $91.00 to $90.00 and set a "market perform" rating for the company in a research report on Wednesday, January 29th. Raymond James reissued an "outperform" rating and issued a $72.00 price target (down previously from $80.00) on shares of Axos Financial in a research report on Friday, May 2nd. DA Davidson decreased their price target on shares of Axos Financial from $88.00 to $84.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Needham & Company LLC reissued a "buy" rating and issued a $88.00 price target on shares of Axos Financial in a research report on Thursday, May 1st. Finally, Piper Sandler decreased their price objective on shares of Axos Financial from $84.00 to $80.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Axos Financial presently has a consensus rating of "Moderate Buy" and an average target price of $81.50.

Axos Financial 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.