AMREP (NYSE:AXR) Major Shareholder Acquires $103,328.18 in Stock

AMREP Corporation (NYSE:AXR) major shareholder James Dahl acquired 4,358 shares of the firm’s stock in a transaction dated Thursday, February 12th. The shares were purchased at an average price of $23.71 per share, for a total transaction of $103,328.18. Following the completion of the transaction, the insider directly owned 448,056 shares in the company, valued at approximately $10,623,407.76. This trade represents a 0.98% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

AMREP Stock Up 0.7%

NYSE:AXR opened at $23.85 on Monday. The business’s 50-day simple moving average is $20.50 and its two-hundred day simple moving average is $21.92. AMREP Corporation has a 52 week low of $17.60 and a 52 week high of $30.00. The stock has a market cap of $126.64 million, a PE ratio of 12.23 and a beta of 1.44.

AMREP (NYSE:AXR) last released its earnings results on Friday, December 12th. The business services provider reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate 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.

Wall Street Analysts Forecast Growth

AXR has been the topic of a number of research reports. Wall Street Zen upgraded shares of AMREP from a “hold” rating to a “buy” rating in a report on Sunday, October 19th. Weiss Ratings restated a “hold (c)” rating on shares of AMREP in a research report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold”.

Institutional Trading of AMREP

Several hedge funds have recently made changes to their positions in the business. NBC Securities Inc. grew its position in AMREP by 65.0% in the fourth quarter. NBC Securities Inc. now owns 1,650 shares of the business services provider’s stock worth $31,000 after acquiring an additional 650 shares in the last quarter. Acadian Asset Management LLC bought a new position in AMREP in the 1st quarter valued at $46,000. Jane Street Group LLC boosted its stake in shares of 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 purchasing an additional 3,077 shares during the period. Ritholtz Wealth Management grew its holdings in shares of AMREP by 42.1% in the second quarter. Ritholtz Wealth Management now owns 17,375 shares of the business services provider’s stock worth $364,000 after purchasing an additional 5,144 shares during the last quarter. Finally, Citadel Advisors LLC bought a new position in shares of AMREP in the third quarter worth about $453,000. 59.85% of the stock is currently owned by hedge funds and other institutional investors.

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.