AMREP (NYSE:AXR) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

AMREP Corporation (NYSE:AXR) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $22.56 and traded as high as $22.63. AMREP shares last traded at $21.2050, with a volume of 6,627 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have commented on AXR shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of AMREP in a research report on Wednesday, October 8th. Wall Street Zen raised shares of AMREP from a “hold” rating to a “buy” rating in a research note on Sunday, October 19th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, AMREP currently has a consensus rating of “Hold”.

AMREP Price Performance

The firm has a market capitalization of $112.51 million, a PE ratio of 8.55 and a beta of 1.31. The company has a 50-day moving average price of $23.48 and a 200-day moving average price of $22.56.

AMREP (NYSE:AXR) last posted its quarterly earnings data on Tuesday, September 9th. The business services provider reported $0.87 EPS for the quarter. The firm had revenue of $17.85 million during the quarter. AMREP had a return on equity of 10.35% and a net margin of 27.54%.

Institutional Trading of AMREP

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Robotti Robert raised its holdings in AMREP by 4.6% in the 1st quarter. Robotti Robert now owns 524,407 shares of the business services provider’s stock valued at $10,514,000 after acquiring an additional 22,990 shares during the last quarter. Cerity Partners LLC lifted its position in AMREP by 8.1% during the first quarter. Cerity Partners LLC now owns 171,124 shares of the business services provider’s stock worth $3,431,000 after buying an additional 12,767 shares during the period. Truffle Hound Capital LLC lifted its position in AMREP by 31.0% during the third quarter. Truffle Hound Capital LLC now owns 150,000 shares of the business services provider’s stock worth $3,588,000 after buying an additional 35,476 shares during the period. Cresset Asset Management LLC boosted its stake in AMREP by 0.4% in the 1st quarter. Cresset Asset Management LLC now owns 129,718 shares of the business services provider’s stock worth $2,601,000 after buying an additional 488 shares during the last quarter. Finally, Gate City Capital Management LLC grew its holdings in AMREP by 271.0% in the 2nd quarter. Gate City Capital Management LLC now owns 103,583 shares of the business services provider’s stock valued at $2,168,000 after buying an additional 75,661 shares during the period. 59.85% of the stock is owned by hedge funds and other institutional investors.

About AMREP

AMREP Corporation, through its subsidiaries, primarily engages in the real estate business. The company operates through two segments, Land Development and Homebuilding. It sells developed and undeveloped lots to homebuilders, commercial and industrial property developers, and others. In addition, the company owns mineral interests covering an area of approximately 55,000 surface acres of land in Sandoval County, New Mexico; and owns oil, gas, and minerals and mineral interests covering an area of approximately 147 surface acres of land in Brighton, Colorado.