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

Fred Alger Management LLC acquired a new stake in Axos Financial, Inc. (NYSE:AX) during the 4th quarter, Holdings Channel.com reports. The firm acquired 7,070 shares of the company’s stock, valued at approximately $494,000.

Several other hedge funds have also recently bought and sold shares of AX. Heck Capital Advisors LLC acquired a new position in shares of Axos Financial in the fourth quarter worth $35,000. Kestra Investment Management LLC purchased a new stake in Axos Financial during the 4th quarter worth about $52,000. NewEdge Advisors LLC increased its holdings in Axos Financial by 1,700.0% during the 4th quarter. NewEdge Advisors LLC now owns 900 shares of the company’s stock worth $63,000 after purchasing an additional 850 shares during the period. R Squared Ltd acquired a new stake in Axos Financial in the 4th quarter valued at about $66,000. Finally, SRS Capital Advisors Inc. boosted its stake in shares of 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

In related news, Director Sara Wardell-Smith purchased 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average cost of $64.73 per share, with a total value of $194,190.00. Following the completion of the acquisition, the director now directly owns 10,250 shares in the company, valued at $663,482.50. This trade represents a 41.38 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Paul Grinberg sold 30,000 shares of the business’s stock in a transaction 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 completion of the transaction, the director now directly owns 113,295 shares in the company, valued at $7,714,256.55. This represents a 20.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.07% of the stock is owned by company insiders.

Axos Financial Stock Down 0.4 %

Axos Financial stock opened at $68.76 on Friday. The company has a market capitalization of $3.88 billion, a P/E ratio of 9.24 and a beta of 1.25. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.09 and a current ratio of 1.09. 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 50-day simple moving average of $62.77 and a 200-day simple moving average of $69.60.

Axos Financial (NYSE:AX) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.07. The company had revenue of $432.72 million during the quarter, compared to analysts’ expectations of $305.04 million. Axos Financial had a return on equity of 18.67% and a net margin of 22.10%. During the same quarter in the previous year, the business earned $1.91 earnings per share. Equities research analysts expect that Axos Financial, Inc. will post 7.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AX. DA Davidson reduced their target price on shares of Axos Financial from $88.00 to $84.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Raymond James reaffirmed an “outperform” rating and set a $72.00 price objective (down from $80.00) on shares of Axos Financial in a research report on Friday, May 2nd. Needham & Company LLC reissued a “buy” rating and issued a $88.00 target price on shares of Axos Financial in a report on Thursday, May 1st. Keefe, Bruyette & Woods decreased their price target on Axos Financial from $91.00 to $90.00 and set a “market perform” rating for the company in a report on Wednesday, January 29th. Finally, Piper Sandler dropped their price objective on Axos Financial from $84.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $81.50.

About Axos Financial

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.