Redwood Investments LLC Acquires 59,667 Shares of Axos Financial, Inc. (NYSE:AX)

Redwood Investments LLC increased its stake in shares of Axos Financial, Inc. (NYSE:AX - Free Report) by 192.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 90,712 shares of the company's stock after acquiring an additional 59,667 shares during the quarter. Axos Financial makes up about 1.7% of Redwood Investments LLC's portfolio, making the stock its 16th largest position. Redwood Investments LLC owned approximately 0.16% of Axos Financial worth $6,336,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Heck Capital Advisors LLC bought a new position in Axos Financial during the fourth quarter valued at about $35,000. Kestra Investment Management LLC bought a new stake in Axos Financial during the fourth quarter worth about $52,000. NewEdge Advisors LLC lifted its holdings in shares of Axos Financial by 1,700.0% in the 4th quarter. NewEdge Advisors LLC now owns 900 shares of the company's stock worth $63,000 after acquiring an additional 850 shares during the last quarter. R Squared Ltd bought a new stake in shares of Axos Financial in the 4th quarter valued at about $66,000. Finally, SRS Capital Advisors Inc. grew its holdings in shares of Axos Financial by 238.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,097 shares of the company's stock worth $77,000 after purchasing an additional 773 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company's stock.

Insider Buying and Selling

In other news, Director Sara Wardell-Smith bought 3,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was bought at an average cost of $64.73 per share, with a total value of $194,190.00. Following the purchase, the director now owns 10,250 shares of the company's stock, valued at approximately $663,482.50. This represents a 41.38% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Paul Grinberg sold 30,000 shares of the business's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $68.09, for a total transaction of $2,042,700.00. Following the transaction, the director now owns 113,295 shares of the company's stock, valued at approximately $7,714,256.55. This represents a 20.94% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.07% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Piper Sandler reduced their price objective on Axos Financial from $84.00 to $80.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. DA Davidson cut their target price on Axos Financial from $88.00 to $84.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Keefe, Bruyette & Woods lowered their price objective 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 restated an "outperform" rating and set a $72.00 target price (down previously from $80.00) on shares of Axos Financial in a research report on Friday, May 2nd. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $88.00 target price on shares of Axos Financial in a report on Thursday, May 1st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $81.50.

Axos Financial Price Performance

AX stock traded down $0.23 during midday trading on Friday, hitting $72.49. 320,481 shares of the stock were exchanged, compared to its average volume of 521,341. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.09 and a current ratio of 1.09. The stock's 50-day moving average price is $63.68 and its 200-day moving average price is $69.83. Axos Financial, Inc. has a fifty-two week low of $44.10 and a fifty-two week high of $88.46. The stock has a market cap of $4.09 billion, a price-to-earnings ratio of 9.74 and a beta of 1.25.

Axos Financial (NYSE:AX - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.07. The company had revenue of $432.72 million during the quarter, compared to the consensus estimate 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 firm earned $1.91 earnings per share. Research analysts predict that Axos Financial, Inc. will post 7.22 earnings per share for the current year.

Axos Financial announced that its Board of Directors has initiated a stock repurchase plan on Monday, May 12th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to buy up to 2.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.

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.