Emerald Mutual Fund Advisers Trust Increases Position in Axos Financial, Inc. (NYSE:AX)

Emerald Mutual Fund Advisers Trust boosted its holdings in shares of Axos Financial, Inc. (NYSE:AX) by 10.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 422,460 shares of the company’s stock after acquiring an additional 40,184 shares during the period. Axos Financial accounts for approximately 1.4% of Emerald Mutual Fund Advisers Trust’s investment portfolio, making the stock its 18th biggest position. Emerald Mutual Fund Advisers Trust’s holdings in Axos Financial were worth $26,564,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of AX. Hollencrest Capital Management purchased a new stake in shares of Axos Financial in the 2nd quarter valued at approximately $25,000. EntryPoint Capital LLC grew its stake in shares of Axos Financial by 816.7% in the 1st quarter. EntryPoint Capital LLC now owns 495 shares of the company’s stock valued at $27,000 after buying an additional 441 shares during the period. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Axos Financial in the 3rd quarter valued at approximately $27,000. Farther Finance Advisors LLC grew its stake in shares of Axos Financial by 881.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 648 shares of the company’s stock valued at $41,000 after buying an additional 582 shares during the period. Finally, Advisors Asset Management Inc. grew its stake in shares of Axos Financial by 122.5% in the 1st quarter. Advisors Asset Management Inc. now owns 901 shares of the company’s stock valued at $49,000 after buying an additional 496 shares during the period. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Insiders Place Their Bets

In other Axos Financial news, EVP Andrew J. Micheletti sold 5,197 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $63.13, for a total transaction of $328,086.61. Following the sale, the executive vice president now directly owns 424,149 shares in the company, valued at $26,776,526.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.07% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Piper Sandler increased their price target on shares of Axos Financial from $68.00 to $84.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Keefe, Bruyette & Woods upped their price objective on shares of Axos Financial from $72.00 to $74.00 and gave the stock a “market perform” rating in a report on Friday. Raymond James upped their price objective on shares of Axos Financial from $67.00 to $81.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Wedbush decreased their price objective on shares of Axos Financial from $80.00 to $75.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. Finally, Needham & Company LLC upped their price objective on shares of Axos Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Axos Financial currently has an average rating of “Moderate Buy” and an average price target of $79.80.

Axos Financial Price Performance

Axos Financial stock opened at $65.85 on Friday. The firm has a market cap of $3.75 billion, a PE ratio of 7.97 and a beta of 1.39. Axos Financial, Inc. has a 52-week low of $32.05 and a 52-week high of $79.15. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The company’s 50 day moving average is $64.88 and its two-hundred day moving average is $61.57.

Axos Financial (NYSE:AX) last released its earnings results on Wednesday, October 30th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.80 by $0.16. The company had revenue of $512.87 million for the quarter, compared to analyst estimates of $299.59 million. Axos Financial had a net margin of 24.07% and a return on equity of 19.47%. During the same period in the prior year, the business earned $1.41 EPS. On average, research analysts expect that Axos Financial, Inc. will post 7.03 EPS for the current fiscal year.

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.