JB Capital Partners LP Purchases Shares of 141,360 AMREP Corporation $AXR

JB Capital Partners LP acquired a new stake in AMREP Corporation (NYSE:AXR) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 141,360 shares of the business services provider’s stock, valued at approximately $3,565,099,000. AMREP comprises approximately 0.6% of JB Capital Partners LP’s investment portfolio, making the stock its 23rd largest position. JB Capital Partners LP owned 2.66% of AMREP at the end of the most recent quarter.

Several other large investors also recently modified their holdings of AXR. NBC Securities Inc. grew its stake in AMREP by 65.0% in the 4th quarter. NBC Securities Inc. now owns 1,650 shares of the business services provider’s stock valued at $31,000 after buying an additional 650 shares during the last quarter. Allworth Financial LP acquired a new stake in AMREP during the second quarter worth approximately $45,000. Acadian Asset Management LLC bought a new stake in shares of AMREP during the first quarter worth approximately $46,000. Barclays PLC boosted its holdings in shares of AMREP by 781.7% during the fourth quarter. Barclays PLC now owns 2,795 shares of the business services provider’s stock worth $53,000 after acquiring an additional 2,478 shares during the period. Finally, Marquette Asset Management LLC acquired a new position in shares of AMREP in the second quarter valued at approximately $164,000. 59.85% of the stock is owned by institutional investors.

Insider Buying and Selling at AMREP

In other AMREP news, CFO Adrienne Uleau sold 4,000 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $23.49, for a total value of $93,960.00. Following the sale, the chief financial officer owned 6,574 shares of the company’s stock, valued at $154,423.26. This trade represents a 37.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder James H. Dahl acquired 3,075 shares of the stock in a transaction dated Monday, June 22nd. The shares were bought at an average cost of $25.58 per share, with a total value of $78,658.50. Following the completion of the transaction, the insider owned 501,708 shares of the company’s stock, valued at approximately $12,833,690.64. This represents a 0.62% increase in their position. The SEC filing for this purchase provides additional information. 37.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AXR has been the topic of several research reports. Wall Street Zen upgraded shares of AMREP from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Weiss Ratings downgraded shares of AMREP from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

AMREP Trading Down 1.4%

AXR opened at $22.93 on Friday. AMREP Corporation has a 12-month low of $17.61 and a 12-month high of $29.01. The company has a market cap of $121.99 million, a price-to-earnings ratio of 12.07 and a beta of 1.12. The stock has a fifty day simple moving average of $24.38 and a two-hundred day simple moving average of $25.41.

AMREP (NYSE:AXR) last issued its quarterly earnings results on Friday, July 24th. The business services provider reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.20). The business had revenue of $11.02 million during the quarter, compared to the consensus estimate of $12.36 million. AMREP had a return on equity of 7.47% and a net margin of 19.47%.

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.