AMREP Corporation (NYSE:AXR) Short Interest Update

AMREP Corporation (NYSE:AXR) saw a significant drop in short interest in February. As of February 27th, there was short interest totaling 23,288 shares, a drop of 12.3% from the February 12th total of 26,542 shares. Based on an average daily trading volume, of 9,134 shares, the days-to-cover ratio is presently 2.5 days. Approximately 0.7% of the shares of the stock are short sold. Approximately 0.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 9,134 shares, the days-to-cover ratio is presently 2.5 days.

AMREP Stock Performance

NYSE:AXR opened at $28.31 on Tuesday. The company has a market cap of $150.30 million, a price-to-earnings ratio of 11.79 and a beta of 1.41. The stock’s fifty day moving average price is $23.00 and its two-hundred day moving average price is $22.38. AMREP has a 52-week low of $17.60 and a 52-week high of $28.71.

AMREP (NYSE:AXR) last released its earnings results on Thursday, March 12th. The business services provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.57 by $0.01. The company had revenue of $14.57 million during the quarter, compared to analysts’ expectations of $14.03 million. AMREP had a return on equity of 9.58% and a net margin of 24.40%.

Insider Buying and Selling at AMREP

In other AMREP news, major shareholder James H. Dahl purchased 3,200 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was acquired at an average cost of $25.69 per share, with a total value of $82,208.00. Following the completion of the acquisition, the insider directly owned 470,398 shares of the company’s stock, valued at $12,084,524.62. This represents a 0.68% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired 23,682 shares of company stock valued at $568,565 in the last three months. Company insiders own 37.20% of the company’s stock.

Institutional Trading of AMREP

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AXR. Gate City Capital Management LLC raised its holdings in 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 last quarter. AlphaCentric Advisors LLC bought a new position in shares of AMREP in the 4th quarter valued at about $1,222,000. Truffle Hound Capital LLC grew its position in shares of AMREP by 129.0% during the 2nd quarter. Truffle Hound Capital LLC now owns 114,524 shares of the business services provider’s stock worth $2,397,000 after buying an additional 64,524 shares during the period. Mink Brook Asset Management LLC acquired a new stake in shares of AMREP during the 3rd quarter worth approximately $1,196,000. Finally, Citadel Advisors LLC bought a new stake in shares of AMREP during the third quarter worth approximately $453,000. 59.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of AMREP in a report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

AMREP Company 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.