Insider Buying: AMREP Co. (NYSE:AXR) Major Shareholder Buys 3,500 Shares of Stock

AMREP Co. (NYSE:AXR) major shareholder James H. Dahl bought 3,500 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was acquired at an average cost of $20.57 per share, with a total value of $71,995.00. Following the transaction, the insider now owns 343,565 shares in the company, valued at approximately $7,067,132.05. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

AMREP Stock Performance

Shares of NYSE:AXR opened at $22.92 on Thursday. AMREP Co. has a fifty-two week low of $13.46 and a fifty-two week high of $24.36. The business has a 50-day simple moving average of $21.72 and a two-hundred day simple moving average of $19.50. The firm has a market cap of $120.79 million, a price-to-earnings ratio of 42.45 and a beta of 0.98.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On AMREP

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Gate City Capital Management LLC purchased a new stake in AMREP in the fourth quarter worth about $9,505,000. Cerity Partners LLC purchased a new stake in AMREP in the 4th quarter worth approximately $2,529,000. Acuitas Investments LLC raised its stake in AMREP by 210.9% during the 4th quarter. Acuitas Investments LLC now owns 96,090 shares of the business services provider’s stock worth $2,111,000 after acquiring an additional 65,184 shares during the period. Vanguard Group Inc. raised 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 worth $1,967,000 after acquiring an additional 25,857 shares during the period. Finally, Northern Trust Corp purchased a new position in AMREP during the second quarter valued at approximately $198,000. Hedge funds and other institutional investors own 59.85% of the company’s stock.

AMREP Company Profile

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.