Insider Buying: AMREP Co. (NYSE:AXR) Major Shareholder Acquires 2,800 Shares of Stock

AMREP Co. (NYSE:AXR) major shareholder James H. Dahl acquired 2,800 shares of the stock in a transaction dated Monday, March 25th. The stock was bought at an average price of $20.54 per share, with a total value of $57,512.00. Following the purchase, the insider now directly owns 346,365 shares in the company, valued at $7,114,337.10. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

AMREP Stock Up 3.0 %

NYSE:AXR opened at $22.92 on Thursday. The company has a fifty day moving average of $21.72 and a 200-day moving average of $19.50. The firm has a market capitalization of $120.79 million, a P/E ratio of 42.45 and a beta of 0.98. AMREP Co. has a twelve month low of $13.46 and a twelve month high of $24.36.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of AMREP from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th.

Institutional Trading of AMREP

A number of hedge funds and other institutional investors have recently bought and sold shares of AXR. Royal Bank of Canada increased its stake in AMREP by 11.1% during the 3rd quarter. Royal Bank of Canada now owns 9,000 shares of the business services provider’s stock valued at $102,000 after purchasing an additional 900 shares in the last quarter. Vanguard Group Inc. increased its stake in AMREP by 17.4% during the 3rd quarter. Vanguard Group Inc. now owns 174,387 shares of the business services provider’s stock valued at $1,967,000 after purchasing an additional 25,857 shares in the last quarter. Renaissance Technologies LLC increased its stake in AMREP by 3.5% during the 1st quarter. Renaissance Technologies LLC now owns 119,800 shares of the business services provider’s stock valued at $1,676,000 after purchasing an additional 4,000 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in AMREP by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 162,368 shares of the business services provider’s stock valued at $2,912,000 after purchasing an additional 1,394 shares in the last quarter. Finally, Northern Trust Corp bought a new stake in AMREP during the 2nd quarter valued at $198,000. Institutional investors own 59.85% of the company’s stock.

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.