JB Capital Partners LP Invests $3.57 Million in AMREP Corporation $AXR

JB Capital Partners LP bought a new stake in AMREP Corporation (NYSE:AXR) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 141,360 shares of the business services provider’s stock, valued at approximately $3,565,099. AMREP comprises approximately 0.0% of JB Capital Partners LP’s investment portfolio, making the stock its 23rd biggest position. JB Capital Partners LP owned 2.66% of AMREP as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. NBC Securities Inc. grew its stake in shares of AMREP by 65.0% during the 4th quarter. NBC Securities Inc. now owns 1,650 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 650 shares during the period. Allworth Financial LP purchased a new stake in shares of AMREP during the 2nd quarter worth approximately $45,000. Acadian Asset Management LLC purchased a new stake in shares of AMREP in the first quarter worth about $46,000. Barclays PLC raised its stake in AMREP by 781.7% during the 4th quarter. Barclays PLC now owns 2,795 shares of the business services provider’s stock valued at $53,000 after acquiring an additional 2,478 shares in the last quarter. Finally, Marquette Asset Management LLC acquired a new stake in AMREP during the second quarter valued at $164,000. Institutional investors own 59.85% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder James H. Dahl bought 3,075 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The stock was acquired at an average cost of $25.58 per share, for a total transaction of $78,658.50. Following the purchase, the insider owned 501,708 shares of the company’s stock, valued at approximately $12,833,690.64. This trade represents a 0.62% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Adrienne Uleau sold 4,000 shares of the company’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $23.49, for a total value of $93,960.00. Following the sale, the chief financial officer owned 6,574 shares of the company’s stock, valued at $154,423.26. This trade represents a 37.83% decrease in their position. The SEC filing for this sale provides additional information. 37.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

AXR has been the topic of a number of recent research reports. Wall Street Zen upgraded AMREP from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Weiss Ratings lowered shares of AMREP from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, July 28th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold”.

AMREP Stock Performance

Shares of NYSE:AXR traded up $0.38 on Friday, hitting $23.33. The stock had a trading volume of 350 shares, compared to its average volume of 9,485. AMREP Corporation has a twelve month low of $17.61 and a twelve month high of $29.01. The company has a market capitalization of $124.12 million, a price-to-earnings ratio of 12.28 and a beta of 1.12. The firm’s 50 day moving average price is $24.23 and its 200-day moving average price is $25.50.

AMREP (NYSE:AXR) last released its earnings results on Friday, July 24th. The business services provider reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.20). The firm had revenue of $11.02 million during the quarter, compared to analyst estimates of $12.36 million. AMREP had a net margin of 19.47% and a return on equity of 7.47%.

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.