JB Capital Partners LP Takes $3.57 Billion Position in AMREP Corporation $AXR

JB Capital Partners LP bought a new stake in AMREP Corporation (NYSE:AXR) during the second quarter, Holdings Channel reports. The institutional investor bought 141,360 shares of the business services provider’s stock, valued at approximately $3,565,099,000. AMREP comprises 0.6% of JB Capital Partners LP’s holdings, making the stock its 23rd largest position.

Other large investors have also recently bought and sold shares of the company. Robotti Robert acquired a new position in AMREP in the second quarter valued at $13,159,000. Dimensional Fund Advisors LP increased its position in AMREP by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 195,226 shares of the business services provider’s stock valued at $3,670,000 after acquiring an additional 527 shares during the period. Cerity Partners LLC raised its stake in AMREP by 0.4% during the 4th quarter. Cerity Partners LLC now owns 169,022 shares of the business services provider’s stock valued at $3,178,000 after acquiring an additional 665 shares during the last quarter. Crossingbridge Advisors LLC lifted its position in AMREP by 30.0% during the 4th quarter. Crossingbridge Advisors LLC now owns 65,000 shares of the business services provider’s stock worth $1,222,000 after acquiring an additional 15,000 shares during the period. Finally, AlphaCentric Advisors LLC acquired a new stake in AMREP during the 4th quarter worth approximately $1,222,000. Institutional investors and hedge funds own 59.85% of the company’s stock.

AMREP Stock Performance

Shares of AXR stock opened at $22.93 on Friday. The stock has a fifty day moving average price of $24.38 and a 200 day moving average price of $25.41. The stock has a market cap of $121.99 million, a PE ratio of 12.07 and a beta of 1.12. AMREP Corporation has a 1 year low of $17.61 and a 1 year high of $29.01.

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

Analysts Set New Price Targets

Several research firms have recently commented on AXR. Weiss Ratings cut AMREP from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, July 28th. Wall Street Zen upgraded shares of AMREP from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

Insider Activity

In other AMREP news, CFO Adrienne Uleau sold 4,000 shares of AMREP stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $23.49, for a total transaction of $93,960.00. Following the completion of the transaction, the chief financial officer owned 6,574 shares in the company, valued at approximately $154,423.26. The trade was a 37.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder James H. Dahl purchased 4,000 shares of AMREP stock in a transaction on Friday, May 29th. The stock was acquired at an average cost of $26.16 per share, for a total transaction of $104,640.00. Following the acquisition, the insider directly owned 497,133 shares of the company’s stock, valued at approximately $13,004,999.28. This represents a 0.81% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 37.40% of the company’s stock.

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.