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

Truffle Hound Capital LLC grew its position in shares of AMREP Corporation (NYSE:AXR) by 31.0% in 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 period. AMREP comprises about 1.0% of Truffle Hound Capital LLC’s holdings, making the stock its 20th largest holding. Truffle Hound Capital LLC’s holdings in AMREP were worth $3,588,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AXR. Acadian Asset Management LLC bought a new position in shares of AMREP during the 1st quarter valued at about $46,000. Jane Street Group LLC boosted its stake in AMREP by 42.1% in the first quarter. Jane Street Group LLC now owns 10,394 shares of the business services provider’s stock worth $208,000 after buying an additional 3,077 shares in the last quarter. Ritholtz Wealth Management grew its position in AMREP by 42.1% during the second quarter. Ritholtz Wealth Management now owns 17,375 shares of the business services provider’s stock valued at $364,000 after acquiring an additional 5,144 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of AMREP by 1.7% during the second quarter. Geode Capital Management LLC now owns 33,566 shares of the business services provider’s stock worth $703,000 after acquiring an additional 574 shares in the last quarter. Finally, Empowered Funds LLC raised its stake in shares of AMREP by 7.4% during the first quarter. Empowered Funds LLC now owns 48,281 shares of the business services provider’s stock worth $968,000 after acquiring an additional 3,344 shares in the last quarter. 59.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AXR has been the subject of a number of research reports. Weiss Ratings reaffirmed 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 research note on Sunday, October 19th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Insider Buying and Selling at AMREP

In other AMREP news, major shareholder James H. Dahl bought 4,358 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The shares were bought 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders have bought 13,482 shares of company stock worth $306,047 in the last ninety days. Corporate insiders own 37.20% of the company’s stock.

AMREP Stock Performance

Shares of AMREP stock 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 company’s 50 day moving average price is $20.50 and its 200-day moving average price is $21.93. The stock 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 announced 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). AMREP had a net margin of 22.86% and a return on equity of 7.98%. The firm had revenue of $9.40 million for the quarter, compared to analysts’ expectations of $14.97 million.

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.