AMREP (NYSE:AXR) Major Shareholder Buys $132,278.40 in Stock

AMREP Corporation (NYSE:AXR) major shareholder James Dahl acquired 6,124 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were bought at an average cost of $21.60 per share, for a total transaction of $132,278.40. Following the purchase, the insider owned 440,698 shares of the company’s stock, valued at approximately $9,519,076.80. The trade was a 1.41% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

AMREP Trading Up 0.7%

Shares of AXR stock opened at $23.85 on Friday. The company has a market capitalization of $126.64 million, a price-to-earnings ratio of 12.23 and a beta of 1.44. The firm has a 50-day moving average price of $20.50 and a 200 day moving average price of $21.93. AMREP Corporation has a twelve month low of $17.60 and a twelve month high of $30.00.

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

Institutional Investors Weigh In On AMREP

Several institutional investors and hedge funds have recently added to or reduced their stakes in AXR. Gate City Capital Management LLC grew its holdings in shares of AMREP by 271.0% during the 2nd quarter. Gate City Capital Management LLC now owns 103,583 shares of the business services provider’s stock worth $2,168,000 after purchasing an additional 75,661 shares during the period. AlphaCentric Advisors LLC acquired a new position in AMREP during the fourth quarter valued at approximately $1,222,000. Truffle Hound Capital LLC lifted its position in AMREP by 129.0% during the second quarter. Truffle Hound Capital LLC now owns 114,524 shares of the business services provider’s stock valued at $2,397,000 after buying an additional 64,524 shares in the last quarter. Mink Brook Asset Management LLC purchased a new stake in AMREP during the third quarter worth approximately $1,196,000. Finally, Citadel Advisors LLC acquired a new stake in shares of AMREP in the third quarter worth $453,000. 59.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AXR has been the topic of several analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of AMREP in a report on Monday, December 29th. Wall Street Zen raised AMREP from a “hold” rating to a “buy” rating in a research note on Sunday, October 19th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, AMREP has an average rating of “Hold”.

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.