James Dahl Acquires 3,000 Shares of AMREP (NYSE:AXR) Stock

AMREP Corporation (NYSE:AXR) major shareholder James Dahl bought 3,000 shares of AMREP stock in a transaction on Wednesday, February 11th. The stock was purchased at an average price of $23.48 per share, for a total transaction of $70,440.00. Following the completion of the acquisition, the insider owned 443,698 shares in the company, valued at $10,418,029.04. This represents a 0.68% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

AMREP Stock Up 0.8%

Shares of AXR traded up $0.19 on Thursday, hitting $23.76. 9,195 shares of the stock traded hands, compared to its average volume of 3,796. AMREP Corporation has a 1 year low of $17.60 and a 1 year high of $30.83. The stock’s 50 day moving average is $20.41 and its two-hundred day moving average is $21.91. The firm has a market capitalization of $126.14 million, a P/E ratio of 12.18 and a beta of 1.44.

AMREP (NYSE:AXR) last issued its quarterly earnings results on Friday, December 12th. The business services provider reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.22). AMREP had a return on equity of 7.98% and a net margin of 22.86%.The business had revenue of $9.40 million for the quarter, compared to analysts’ expectations of $14.97 million.

Hedge Funds Weigh In On AMREP

Several hedge funds and other institutional investors have recently modified their holdings of the company. NBC Securities Inc. grew its holdings in shares of AMREP by 65.0% during the 4th quarter. NBC Securities Inc. now owns 1,650 shares of the business services provider’s stock worth $31,000 after purchasing an additional 650 shares during the period. Acadian Asset Management LLC acquired a new position in AMREP during the first quarter valued at approximately $46,000. Jane Street Group LLC lifted its position in AMREP by 42.1% during the first quarter. Jane Street Group LLC now owns 10,394 shares of the business services provider’s stock valued at $208,000 after buying an additional 3,077 shares in the last quarter. Ritholtz Wealth Management grew its stake in AMREP by 42.1% during the second quarter. Ritholtz Wealth Management now owns 17,375 shares of the business services provider’s stock worth $364,000 after buying an additional 5,144 shares during the period. Finally, Citadel Advisors LLC purchased a new stake in AMREP during the third quarter worth approximately $453,000. 59.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AXR. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AMREP in a research note on Monday, December 29th. Wall Street Zen upgraded shares of AMREP from a “hold” rating to a “buy” rating in a report on Sunday, October 19th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, AMREP has a consensus rating of “Hold”.

About AMREP

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.