50,000 Shares in AMREP Corporation $AXR Bought by Mink Brook Asset Management LLC

Mink Brook Asset Management LLC acquired a new position in shares of AMREP Corporation (NYSE:AXR) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 50,000 shares of the business services provider’s stock, valued at approximately $1,196,000. AMREP accounts for about 0.8% of Mink Brook Asset Management LLC’s portfolio, making the stock its 23rd largest holding.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Empowered Funds LLC increased its holdings in shares of AMREP by 7.4% during the first quarter. Empowered Funds LLC now owns 48,281 shares of the business services provider’s stock worth $968,000 after buying an additional 3,344 shares in the last quarter. Jane Street Group LLC lifted 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 acquiring an additional 3,077 shares during the period. Acadian Asset Management LLC bought a new position in shares of AMREP in the 1st quarter valued at about $46,000. Geode Capital Management LLC boosted its stake in 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 acquiring an additional 574 shares during the last quarter. Finally, Truffle Hound Capital LLC grew its holdings in AMREP by 129.0% during the 2nd quarter. Truffle Hound Capital LLC now owns 114,524 shares of the business services provider’s stock worth $2,397,000 after acquiring an additional 64,524 shares during the period. Institutional investors own 59.85% of the company’s stock.

AMREP Stock Performance

NYSE:AXR opened at $28.31 on Tuesday. The stock’s 50-day simple moving average is $23.00 and its 200 day simple moving average is $22.38. AMREP Corporation has a 52-week low of $17.60 and a 52-week high of $28.71. The company has a market cap of $150.30 million, a P/E ratio of 11.79 and a beta of 1.41.

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

Insider Transactions at AMREP

In other news, major shareholder James H. Dahl bought 3,200 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was acquired at an average cost of $25.69 per share, for a total transaction of $82,208.00. Following the purchase, the insider owned 470,398 shares of the company’s stock, valued at approximately $12,084,524.62. This trade represents a 0.68% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last three months, insiders have bought 23,682 shares of company stock valued at $568,565. Company insiders own 37.20% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of AMREP in a research note on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, AMREP has an average rating of “Hold”.

AMREP Company Profile

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.