Raymond James analysts downgrades an Outperform rating for Axos Financial Inc. (AX)


Axos Financial Inc.’s recent filing unveils that its President and CEO Garrabrants Gregory unloaded Company’s shares for reported $2.21 million on Aug 04. In the deal valued at $45.60 per share,48,356 shares were sold. As a result of this transaction, Garrabrants Gregory now holds 1,387,623 shares worth roughly $ 60.13 million.

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Then, Garrabrants Gregory sold 85,312 shares, generating $3,869,752 in total proceeds. Upon selling the shares at $45.36, the President and CEO now owns 1,435,979 shares.

Before that, Garrabrants Gregory sold 62,356 shares. Axos Financial Inc. shares valued at $2,815,373 were divested by the President and CEO at a price of $45.15 per share. As a result of the transaction, Garrabrants Gregory now holds 1,521,291 shares, worth roughly $65.92 million.

Raymond James downgraded its Axos Financial Inc. [AX] rating to an Outperform from a a Strong buy in a research note published on Tuesday. PT values the company’s stock at a premium of 21.22 to its Tuesday closing price.

Price Performance Review of AX

On Tuesday, Axos Financial Inc. [NYSE:AX] saw its stock fall -1.81% to $43.33. On the same session, the stock had its day’s lowest price of $43.02, but rose to a high of $44.4599. Over the last five days, the stock has gained 3.44%. Axos Financial Inc. shares have risen nearly 13.37% since the year began. Nevertheless, the stocks have risen 6.41% over the past one year. While a 52-week high of $51.46 was reached on 02/03/23, a 52-week low of $33.15 was recorded on 03/13/23. SMA at 50 days reached $42.65, while 200 days put it at $41.06. A total of 0.63 million shares were traded, compared to the trading of 0.38 million shares in the previous session.

Levels Of Support And Resistance For AX Stock

The 24-hour chart illustrates a support level at 42.75, which if violated will result in even more drops to 42.16. On the upside, there is a resistance level at 44.19. A further resistance level may holdings at 45.04. The Relative Strength Index (RSI) on the 14-day chart is 53.76, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.79, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 22.78%. Stochastics %K at 91.00% indicates the stock is a selling.

How much short interest is there in Axos Financial Inc.?

A steep rise in short interest was recorded in Axos Financial Inc. stocks on Aug 14, 2023, growing by 0.35 million shares to a total of 4.54 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 4.19 million shares. There was a rise of 7.71%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 9.49% of the overall stock float, the days-to-cover ratio (short ratio) rose to 10.16.

Axos Financial Inc. [AX] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 7,813,078 shares, or roughly 13.22% of the outstanding AX shares. In other words, the investor’s shares have fallen by -242,719 from its previous 13-F filing of 8055797.0. Additionally, The Vanguard Group, Inc. decreased -2.75% of its stake after which the total value it holdings stand at $288,302,512, while SSgA Funds Management, Inc. added 11.07% of its stake to hold $139.42 million in the firm. Over the last quarter, Dimensional Fund Advisors LP purchased 93,039 shares of Axos Financial Inc., while Wasatch Advisors, Inc. bought -67,525 shares. At present, Davis Asset Management LP is holding 1,425,000 shares valued at $66.97 million. Columbia Management Investment Ad owned 1,288,446 shares of the company at the time of its most recent 13F filing, worth $60.56 million.

According to FactSet, Axos Financial Inc.’s share price will average $56.83 in the next year, based on opinions of analysts polled by the firm. This is up nearly 25.76 percent from its previous closing price of $44.13. Analysts expect Axos Financial Inc. stock to reach the higher price of $65.00, while the lowest price estimate is $49.00. However, 6 analysts have rated AX stock as an Overweight in their predictions for 2023.


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