AMREP (NYSE:AXR) Major Shareholder Purchases $105,200.00 in Stock

AMREP Corporation (NYSE:AXR) major shareholder James Dahl bought 4,000 shares of the stock in a transaction that occurred on Thursday, March 26th. The shares were purchased at an average price of $26.30 per share, with a total value of $105,200.00. Following the completion of the acquisition, the insider directly owned 474,398 shares in the company, valued at $12,476,667.40. This trade represents a 0.85% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

AMREP Price Performance

NYSE AXR opened at $25.59 on Friday. The company has a market cap of $135.86 million, a P/E ratio of 10.66 and a beta of 1.41. The stock has a 50-day moving average of $24.24 and a two-hundred day moving average of $22.77. AMREP Corporation has a 1-year low of $17.60 and a 1-year high of $29.00.

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

Institutional Investors Weigh In On AMREP

Large investors have recently bought and sold shares of the stock. NBC Securities Inc. increased its holdings in AMREP by 65.0% during the 4th quarter. NBC Securities Inc. now owns 1,650 shares of the business services provider’s stock worth $31,000 after purchasing an additional 650 shares during the period. Acadian Asset Management LLC purchased a new position in shares of AMREP in the 1st quarter valued at about $46,000. Barclays PLC boosted its stake in shares of AMREP by 781.7% in the 4th quarter. Barclays PLC now owns 2,795 shares of the business services provider’s stock valued at $53,000 after buying an additional 2,478 shares during the period. Jane Street Group LLC grew its position in shares of AMREP by 42.1% during 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. Finally, Citadel Advisors LLC acquired a new position in shares of AMREP during the third quarter worth about $453,000. Hedge funds and other institutional investors own 59.85% of the company’s stock.

Analyst Upgrades and Downgrades

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