Short Interest in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) Decreases By 9.9%

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) was the recipient of a significant decline in short interest in the month of November. As of November 30th, there was short interest totalling 4,530,000 shares, a decline of 9.9% from the November 15th total of 5,030,000 shares. Based on an average daily trading volume, of 1,610,000 shares, the days-to-cover ratio is currently 2.8 days. Approximately 4.1% of the shares of the company are short sold.

Hedge Funds Weigh In On American Axle & Manufacturing

A number of institutional investors and hedge funds have recently made changes to their positions in AXL. SummerHaven Investment Management LLC lifted its position in American Axle & Manufacturing by 2.5% in the 2nd quarter. SummerHaven Investment Management LLC now owns 84,592 shares of the auto parts company’s stock valued at $591,000 after acquiring an additional 2,066 shares in the last quarter. Atom Investors LP raised its position in American Axle & Manufacturing by 1.0% in the third quarter. Atom Investors LP now owns 203,152 shares of the auto parts company’s stock worth $1,255,000 after acquiring an additional 2,087 shares during the period. Xponance Inc. increased its stake in shares of American Axle & Manufacturing by 18.2% in the 2nd quarter. Xponance Inc. now owns 18,225 shares of the auto parts company’s stock worth $127,000 after purchasing an additional 2,800 shares in the last quarter. Highland Capital Management LLC raised its stake in American Axle & Manufacturing by 10.8% during the 3rd quarter. Highland Capital Management LLC now owns 29,405 shares of the auto parts company’s stock worth $182,000 after acquiring an additional 2,868 shares during the period. Finally, KBC Group NV boosted its holdings in American Axle & Manufacturing by 81.3% in the 3rd quarter. KBC Group NV now owns 7,160 shares of the auto parts company’s stock worth $44,000 after buying an additional 3,211 shares during the period. Institutional investors own 91.41% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on AXL shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $6.00 target price on shares of American Axle & Manufacturing in a research note on Tuesday, September 10th. Wolfe Research upgraded American Axle & Manufacturing to a “hold” rating in a research note on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $7.38.

American Axle & Manufacturing Price Performance

Shares of AXL stock traded down $0.08 during trading hours on Tuesday, hitting $6.29. 1,264,030 shares of the company’s stock were exchanged, compared to its average volume of 1,567,680. American Axle & Manufacturing has a 12-month low of $5.43 and a 12-month high of $8.99. The company has a market capitalization of $739.58 million, a PE ratio of 26.21 and a beta of 1.95. The business’s 50 day simple moving average is $6.35 and its 200-day simple moving average is $6.54. The company has a current ratio of 1.65, a quick ratio of 1.29 and a debt-to-equity ratio of 4.28.

American Axle & Manufacturing (NYSE:AXL) last announced its quarterly earnings results on Friday, November 8th. The auto parts company reported $0.20 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.25. American Axle & Manufacturing had a net margin of 0.48% and a return on equity of 9.63%. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the prior year, the company posted ($0.11) EPS. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. On average, equities research analysts anticipate that American Axle & Manufacturing will post 0.47 earnings per share for the current year.

American Axle & Manufacturing Company Profile

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.