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Short Interest in Great Ajax Corp. (NYSE:AJX) Drops By 91.0%

kopsource · Jul 15, 2022 19:51

Great Ajax Corp. (NYSE:AJX – Get Rating) was the target of a significant decline in short interest during the month of June. As of June 30th, there was short interest totalling 81,900 shares, a decline of 91.0% from the June 15th total of 907,500 shares. Currently, 0.4% of the company's stock are sold short. Based on an average trading volume of 201,300 shares, the days-to-cover ratio is presently 0.4 days.

Insider Transactions at Great Ajax

In other news, major shareholder Magnetar Financial Llc sold 200,000 shares of Great Ajax stock in a transaction dated Friday, June 17th. The stock was sold at an average price of $24.48, for a total transaction of $4,896,000.00. Following the sale, the insider now directly owns 111,383 shares of the company's stock, valued at $2,726,655.84. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 6.00% of the company's stock.

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Hedge Funds Weigh In On Great Ajax

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Wiley BROS. Aintree Capital LLC boosted its position in shares of Great Ajax by 13.1% during the second quarter. Wiley BROS. Aintree Capital LLC now owns 163,174 shares of the real estate investment trust's stock worth $1,565,000 after buying an additional 18,945 shares during the period. Amalgamated Bank bought a new stake in Great Ajax during the first quarter worth approximately $31,000. Goldman Sachs Group Inc. raised its holdings in Great Ajax by 83.5% during the first quarter. Goldman Sachs Group Inc. now owns 295,592 shares of the real estate investment trust's stock worth $3,467,000 after purchasing an additional 134,465 shares in the last quarter. State Street Corp raised its holdings in Great Ajax by 67.7% during the first quarter. State Street Corp now owns 623,080 shares of the real estate investment trust's stock worth $7,309,000 after purchasing an additional 251,443 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Great Ajax by 6.0% during the first quarter. Invesco Ltd. now owns 37,875 shares of the real estate investment trust's stock worth $444,000 after purchasing an additional 2,145 shares in the last quarter. 80.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Compass Point raised Great Ajax from a "neutral" rating to a "buy" rating and set a $16.00 price objective for the company in a report on Tuesday, May 17th. JMP Securities lowered their price objective on Great Ajax from $15.00 to $11.00 and set a "market outperform" rating for the company in a report on Tuesday, April 26th. Finally, StockNews.com assumed coverage on Great Ajax in a report on Thursday, March 31st. They issued a "hold" rating for the company.

Great Ajax Stock Performance

AJX stock traded up $0.27 during midday trading on Friday, reaching $9.89. The company had a trading volume of 81,011 shares, compared to its average volume of 141,457. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 1.72. The stock has a 50 day moving average price of $9.84 and a 200 day moving average price of $10.99. Great Ajax has a fifty-two week low of $8.68 and a fifty-two week high of $14.74. The firm has a market capitalization of $229.29 million, a PE ratio of 7.79 and a beta of 1.74.

Great Ajax (NYSE:AJX – Get Rating) last issued its earnings results on Thursday, May 5th. The real estate investment trust reported $0.15 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.21). Great Ajax had a net margin of 53.18% and a return on equity of 9.55%. During the same period last year, the company earned $0.30 earnings per share. Analysts anticipate that Great Ajax will post 0.99 earnings per share for the current year.

Great Ajax Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 31st. Shareholders of record on Monday, May 16th were paid a $0.26 dividend. The ex-dividend date was Friday, May 13th. This represents a $1.04 dividend on an annualized basis and a yield of 10.52%. Great Ajax's payout ratio is currently 81.89%.

Great Ajax Company Profile

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Great Ajax Corp., real estate company, acquires, invests in, and manages a portfolio of residential mortgage and small balance commercial mortgage loans. The company also holds real estate owned properties acquired upon the foreclosure or other settlement of its non-performing loans, as well as through outright purchases.