American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) Sees Large Decrease in Short Interest

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) was the target of a large decline in short interest in the month of July. As of July 15th, there was short interest totalling 2,670,000 shares, a decline of 5.7% from the June 30th total of 2,830,000 shares. Based on an average trading volume of 1,260,000 shares, the days-to-cover ratio is presently 2.1 days. Currently, 2.4% of the shares of the company are sold short.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC bought a new stake in American Axle & Manufacturing in the fourth quarter worth $76,000. EntryPoint Capital LLC bought a new stake in American Axle & Manufacturing in the first quarter worth $76,000. QRG Capital Management Inc. raised its stake in shares of American Axle & Manufacturing by 13.5% during the second quarter. QRG Capital Management Inc. now owns 14,037 shares of the auto parts company’s stock valued at $98,000 after acquiring an additional 1,665 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of American Axle & Manufacturing by 7.4% during the first quarter. ProShare Advisors LLC now owns 23,084 shares of the auto parts company’s stock valued at $170,000 after acquiring an additional 1,582 shares during the last quarter. Finally, Highland Capital Management LLC bought a new position in shares of American Axle & Manufacturing during the second quarter valued at about $185,000. 91.41% of the stock is currently owned by hedge funds and other institutional investors.

American Axle & Manufacturing Price Performance

AXL opened at $7.11 on Wednesday. American Axle & Manufacturing has a one year low of $6.29 and a one year high of $9.54. The company has a fifty day moving average price of $7.18 and a 200-day moving average price of $7.35. The company has a debt-to-equity ratio of 4.40, a quick ratio of 1.31 and a current ratio of 1.69.

American Axle & Manufacturing (NYSE:AXL) last announced its earnings results on Friday, May 3rd. The auto parts company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.16. American Axle & Manufacturing had a negative net margin of 0.13% and a positive return on equity of 1.92%. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period in the previous year, the business earned ($0.01) earnings per share. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. Sell-side analysts anticipate that American Axle & Manufacturing will post 0.35 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. UBS Group boosted their target price on shares of American Axle & Manufacturing from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Monday, May 6th. Citigroup boosted their price target on shares of American Axle & Manufacturing from $7.50 to $8.00 and gave the company a “neutral” rating in a research report on Monday, May 6th. Bank of America boosted their price target on shares of American Axle & Manufacturing from $7.00 to $8.00 and gave the company an “underperform” rating in a research report on Monday, July 22nd. Finally, StockNews.com upgraded shares of American Axle & Manufacturing from a “hold” rating to a “buy” rating in a research report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, American Axle & Manufacturing has a consensus rating of “Hold” and an average price target of $8.00.

About American Axle & Manufacturing

American Axle & Manufacturing Holdings, Inc, together with its subsidiaries, designs, engineers, and manufactures driveline and metal forming technologies that supports electric, hybrid, and internal combustion vehicles. It operates through two segments, Driveline and Metal Forming segments. The Driveline segment offers front and rear axles, driveshafts, differential assemblies, clutch modules, balance shaft systems, disconnecting driveline technology, and electric and hybrid driveline products and systems for light trucks, sport utility vehicles, crossover vehicles, passenger cars, and commercial vehicles.