Lord Abbett & CO. LLC Sells 23,152 Shares of Axos Financial, Inc. (NYSE:AX)

Lord Abbett & CO. LLC cut its stake in Axos Financial, Inc. (NYSE:AX) by 14.7% in the third quarter, HoldingsChannel reports. The fund owned 134,388 shares of the company’s stock after selling 23,152 shares during the period. Lord Abbett & CO. LLC’s holdings in Axos Financial were worth $8,450,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of AX. Hollencrest Capital Management acquired a new position in Axos Financial during the 2nd quarter valued at about $25,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Axos Financial during the third quarter worth approximately $27,000. Ashton Thomas Securities LLC bought a new stake in shares of Axos Financial during the third quarter worth approximately $41,000. Farther Finance Advisors LLC lifted its holdings in Axos Financial by 881.8% in the third 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, 1620 Investment Advisors Inc. bought a new position in Axos Financial in the second quarter valued at approximately $49,000. 83.79% of the stock is owned by institutional investors.

Axos Financial Stock Down 0.5 %

Shares of Axos Financial stock opened at $79.20 on Tuesday. The company has a market capitalization of $4.52 billion, a P/E ratio of 9.59 and a beta of 1.42. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 1.08. The business has a 50-day moving average of $74.64 and a two-hundred day moving average of $66.83. Axos Financial, Inc. has a 1 year low of $44.10 and a 1 year high of $88.46.

Axos Financial (NYSE:AX) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.16. The business had revenue of $512.87 million during the quarter, compared to analyst estimates of $299.59 million. Axos Financial had a return on equity of 18.99% and a net margin of 24.07%. During the same period in the previous year, the firm earned $1.41 EPS. As a group, equities analysts predict that Axos Financial, Inc. will post 7.07 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Needham & Company LLC increased their price target on Axos Financial from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. StockNews.com upgraded Axos Financial from a “sell” rating to a “hold” rating in a report on Monday, December 9th. Wedbush lowered their price target on Axos Financial from $80.00 to $75.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Axos Financial from $74.00 to $91.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $83.20.

Insider Transactions at Axos Financial

In other news, Director Edward James Ratinoff sold 4,002 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $79.41, for a total transaction of $317,798.82. Following the completion of the transaction, the director now directly owns 46,209 shares of the company’s stock, valued at $3,669,456.69. This represents a 7.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gregory Garrabrants sold 125,000 shares of Axos Financial stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $81.89, for a total value of $10,236,250.00. Following the completion of the sale, the chief executive officer now directly owns 1,340,377 shares in the company, valued at approximately $109,763,472.53. This represents a 8.53 % decrease in their position. The disclosure for this sale can be found here. 5.07% of the stock is owned by 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.