Great Ajax Corp. (AJX) Sees Large Volume Increase
Great Ajax Corp. (NYSE:AJX) saw strong trading volume on Friday . 294,853 shares traded hands during mid-day trading, an increase of 248% from the previous session’s volume of 84,691 shares.The stock last traded at $13.85 and had previously closed at $14.00.
Several equities research analysts recently issued reports on the company. FBR & Co reiterated a “buy” rating on shares of Great Ajax Corp. in a report on Wednesday, May 4th. Zacks Investment Research upgraded Great Ajax Corp. from a “hold” rating to a “strong-buy” rating and set a $17.00 price objective on the stock in a report on Tuesday, July 26th. Sterne Agee CRT reiterated a “buy” rating on shares of Great Ajax Corp. in a report on Monday, May 16th. Piper Jaffray Cos. assumed coverage on Great Ajax Corp. in a report on Monday, June 20th. They issued an “overweight” rating and a $15.00 price objective on the stock. Finally, Nomura reiterated a “buy” rating and issued a $16.00 price objective on shares of Great Ajax Corp. in a report on Wednesday, June 15th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $16.50.
The stock has a market cap of $212.15 million and a PE ratio of 7.37. The stock’s 50 day moving average is $13.71 and its 200-day moving average is $12.38.
In related news, CEO Lawrence Mendelsohn purchased 18,000 shares of the company’s stock in a transaction on Friday, June 10th. The stock was bought at an average price of $13.25 per share, with a total value of $238,500.00. Following the completion of the transaction, the chief executive officer now owns 2,070 shares of the company’s stock, valued at approximately $27,427.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mary B. Doyle purchased 4,271 shares of the company’s stock in a transaction on Monday, June 13th. The shares were bought at an average cost of $13.10 per share, with a total value of $55,950.10. Following the transaction, the chief financial officer now directly owns 7,419 shares of the company’s stock, valued at approximately $97,188.90. The disclosure for this purchase can be found here.
Great Ajax Corp. is an externally managed real estate company. The Company is focused on acquiring, investing in and managing a portfolio of re-performing and non-performing mortgage loans secured by single-family residences and single-family properties. Its segment is focused on non-performing mortgages and re-performing mortgages.
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