AMREP (NYSE:AXR) Major Shareholder Buys $122,500.00 in Stock

AMREP Corporation (NYSE:AXRGet Free Report) major shareholder James Dahl acquired 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was bought at an average price of $24.50 per share, with a total value of $122,500.00. Following the purchase, the insider directly owned 493,133 shares in the company, valued at approximately $12,081,758.50. This trade represents a 1.02% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

AMREP Price Performance

Shares of AXR stock traded down $0.11 during trading hours on Friday, reaching $25.83. 8,983 shares of the stock were exchanged, compared to its average volume of 9,148. The business’s fifty day moving average is $26.89 and its two-hundred day moving average is $23.48. AMREP Corporation has a 12-month low of $17.61 and a 12-month high of $29.00. The firm has a market capitalization of $137.13 million, a P/E ratio of 10.76 and a beta of 1.15.

AMREP (NYSE:AXRGet Free Report) last issued its quarterly earnings results on Thursday, March 12th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. AMREP had a net margin of 24.40% and a return on equity of 9.58%. The company had revenue of $14.57 million during the quarter, compared to the consensus estimate of $14.03 million.

Hedge Funds Weigh In On AMREP

Hedge funds have recently modified their holdings of the business. Empowered Funds LLC boosted its stake in AMREP by 7.4% during the 1st quarter. Empowered Funds LLC now owns 48,281 shares of the business services provider’s stock worth $968,000 after purchasing an additional 3,344 shares during the period. Jane Street Group LLC increased its stake in AMREP by 42.1% in the first quarter. Jane Street Group LLC now owns 10,394 shares of the business services provider’s stock valued at $208,000 after purchasing an additional 3,077 shares during the period. Acadian Asset Management LLC acquired a new position in AMREP in the first quarter valued at $46,000. Geode Capital Management LLC raised its holdings in shares of AMREP by 1.7% in the second quarter. Geode Capital Management LLC now owns 33,566 shares of the business services provider’s stock valued at $703,000 after buying an additional 574 shares during the last quarter. Finally, Truffle Hound Capital LLC raised its holdings in shares of AMREP by 31.0% in the third quarter. Truffle Hound Capital LLC now owns 150,000 shares of the business services provider’s stock valued at $3,588,000 after buying an additional 35,476 shares during the last quarter. 59.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AXR. Freedom Capital downgraded shares of AMREP from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Wall Street Zen upgraded shares of AMREP from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Two analysts have rated the stock with a Hold rating, According to MarketBeat, AMREP has a consensus rating of “Hold”.

View Our Latest Analysis on AXR

AMREP Company Profile

(Get Free Report)

AMREP Corporation (NYSE: AXR) is a Denver-area based company specializing in land development and natural resource management. Since its founding in 1961, AMREP has built a diversified platform that spans real estate operations and resource extraction, serving both individual and institutional clients in the western United States.

Through its real estate segment, AMREP Southwest Inc acquires, develops and markets residential lots in planned communities across New Mexico and Colorado. Notable projects include the Tanoan Country Club and adjacent residential neighborhoods near Albuquerque, where the company employs a direct-to-consumer marketing model to reach out-of-state and local buyers.

Read More

Insider Buying and Selling by Quarter for AMREP (NYSE:AXR)

Receive News & Ratings for AMREP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMREP and related companies with MarketBeat.com's FREE daily email newsletter.