James H. Dahl Buys 3,500 Shares of AMREP Co. (NYSE:AXR) Stock

AMREP Co. (NYSE:AXR) major shareholder James H. Dahl purchased 3,500 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was acquired at an average cost of $20.57 per share, with a total value of $71,995.00. Following the purchase, the insider now owns 343,565 shares of the company’s stock, valued at approximately $7,067,132.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

AMREP Stock Up 2.0 %

Shares of AXR traded up $0.41 during midday trading on Monday, reaching $21.03. 15,950 shares of the stock were exchanged, compared to its average volume of 6,906. The firm has a 50 day simple moving average of $21.69 and a 200-day simple moving average of $19.44. AMREP Co. has a 12-month low of $13.39 and a 12-month high of $24.36. The company has a market cap of $110.85 million, a price-to-earnings ratio of 38.94 and a beta of 0.98.

Hedge Funds Weigh In On AMREP

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada raised its position in shares of AMREP by 11.1% during the third quarter. Royal Bank of Canada now owns 9,000 shares of the business services provider’s stock worth $102,000 after acquiring an additional 900 shares during the last quarter. AJOVista LLC acquired a new stake in AMREP during the 4th quarter worth approximately $29,000. Dimensional Fund Advisors LP increased its stake in AMREP by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 162,368 shares of the business services provider’s stock worth $2,912,000 after acquiring an additional 1,394 shares during the period. Bridgeway Capital Management LLC increased its stake in shares of AMREP by 2.1% in the 4th quarter. Bridgeway Capital Management LLC now owns 150,872 shares of the business services provider’s stock valued at $3,315,000 after purchasing an additional 3,072 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of AMREP by 3.5% during the 1st quarter. Renaissance Technologies LLC now owns 119,800 shares of the business services provider’s stock valued at $1,676,000 after acquiring an additional 4,000 shares in the last quarter. Institutional investors own 33.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded AMREP from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th.

About AMREP

AMREP Corporation, through its subsidiaries, primarily engages in the real estate business. The company operates through two segments, Land Development and Homebuilding. It sells developed and undeveloped lots to homebuilders, commercial and industrial property developers, and others. In addition, the company owns mineral interests covering an area of approximately 55,000 surface acres of land in Sandoval County, New Mexico; and owns oil, gas, and minerals and mineral interests covering an area of approximately 147 surface acres of land in Brighton, Colorado.