Truffle Hound Capital LLC Purchases 35,476 Shares of AMREP Corporation $AXR

Truffle Hound Capital LLC raised its holdings in shares of AMREP Corporation (NYSE:AXR) by 31.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 150,000 shares of the business services provider’s stock after purchasing an additional 35,476 shares during the quarter. AMREP makes up approximately 1.0% of Truffle Hound Capital LLC’s portfolio, making the stock its 20th largest holding. Truffle Hound Capital LLC owned 2.83% of AMREP worth $3,588,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Acadian Asset Management LLC bought a new stake in shares of AMREP in the first quarter valued at approximately $46,000. Jane Street Group LLC lifted its position 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 worth $208,000 after acquiring an additional 3,077 shares in the last quarter. Ritholtz Wealth Management boosted 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 acquiring an additional 5,144 shares during the period. Geode Capital Management LLC grew its position in shares of 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 purchasing an additional 574 shares in the last quarter. Finally, Empowered Funds LLC raised its stake in shares of AMREP by 7.4% during the 1st quarter. Empowered Funds LLC now owns 48,281 shares of the business services provider’s stock valued at $968,000 after purchasing an additional 3,344 shares during the period. Hedge funds and other institutional investors own 59.85% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder James H. Dahl bought 4,358 shares of the stock in a transaction that occurred on Thursday, February 12th. The shares were acquired at an average cost of $23.71 per share, with a total value of $103,328.18. Following the completion of the purchase, the insider directly owned 448,056 shares of the company’s stock, valued at $10,623,407.76. This trade represents a 0.98% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have purchased 13,482 shares of company stock valued at $306,047 over the last quarter. Company insiders own 37.20% of the company’s stock.

AMREP Stock Performance

NYSE:AXR opened at $23.85 on Friday. AMREP Corporation has a 52-week low of $17.60 and a 52-week high of $30.00. The stock has a fifty day moving average of $20.50 and a 200 day moving average of $21.93. The firm has a market capitalization of $126.64 million, a price-to-earnings ratio of 12.23 and a beta of 1.44.

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

Analysts Set New Price Targets

AXR has been the subject of several analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of AMREP in a research note on Monday, December 29th. Wall Street Zen raised 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, Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

AMREP 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.