AMREP Corporation (NYSE:AXR – Get Free Report) shares crossed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $25.17 and traded as low as $22.11. AMREP shares last traded at $22.66, with a volume of 20,785 shares trading hands.
Analyst Upgrades and Downgrades
AXR has been the topic of a number of research reports. Weiss Ratings lowered shares of AMREP from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, September 18th. Freedom Broker dropped their price objective on shares of AMREP from $26.00 to $22.00 and set a “hold” rating on the stock in a report on Tuesday, September 15th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.00.
Get Our Latest Research Report on AMREP
AMREP Stock Down 1.8%
AMREP (NYSE:AXR – Get Free Report) last announced its quarterly earnings data on Friday, September 11th. The business services provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.39). The business had revenue of $6.05 million during the quarter, compared to analyst estimates of $14.27 million. AMREP had a net margin of 14.31% and a return on equity of 4.21%.
Insider Buying and Selling at AMREP
In other news, CFO Adrienne Uleau sold 4,000 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $23.49, for a total value of $93,960.00. Following the completion of the transaction, the chief financial officer directly owned 6,574 shares of the company’s stock, valued at approximately $154,423.26. This represents a 37.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 37.40% of the company’s stock.
Institutional Trading of AMREP
Large investors have recently bought and sold shares of the stock. Empowered Funds LLC bought a new stake in shares of AMREP in the 2nd quarter worth about $1,225,000. JB Capital Partners LP bought a new position in AMREP during the 2nd quarter valued at about $3,565,099. Robotti Robert acquired a new position in AMREP in the second quarter valued at about $13,159,000. BlackRock Inc. acquired a new position in AMREP in the second quarter valued at about $561,000. Finally, Allworth Financial LP bought a new stake in AMREP during the second quarter worth about $45,000. 59.85% of the stock is currently owned by institutional investors.
About AMREP
AMREP Corporation is a diversified company that provides fulfillment services and develops real estate. Through its fulfillment operations, the company serves publishers, membership organizations, nonprofit groups and other businesses with subscription and product fulfillment, direct-mail distribution, data processing, customer-care support and related services.
AMREP’s real estate business is conducted primarily through its AMREP Southwest subsidiary, which owns and develops residential and commercial land in and around Rio Rancho, New Mexico.
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