Mink Brook Asset Management LLC Invests $1.20 Million in AMREP Corporation $AXR

Mink Brook Asset Management LLC purchased a new position in shares of AMREP Corporation (NYSE:AXR) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 50,000 shares of the business services provider’s stock, valued at approximately $1,196,000. AMREP accounts for approximately 0.8% of Mink Brook Asset Management LLC’s investment portfolio, making the stock its 23rd largest position. Mink Brook Asset Management LLC owned 0.94% of AMREP as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new position in shares of AMREP in the first quarter worth about $46,000. Jane Street Group LLC raised its stake in 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 acquiring an additional 3,077 shares during the period. Citadel Advisors LLC acquired a new stake in AMREP during the third quarter worth about $453,000. Geode Capital Management LLC lifted its holdings in shares of AMREP by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 33,566 shares of the business services provider’s stock worth $703,000 after purchasing an additional 574 shares during the last quarter. Finally, Peapod Lane Capital LLC boosted its holdings in shares of AMREP by 1.1% during the third quarter. Peapod Lane Capital LLC now owns 45,732 shares of the business services provider’s stock valued at $1,094,000 after acquiring an additional 503 shares during the period. Institutional investors and hedge funds own 59.85% of the company’s stock.

AMREP Stock Up 15.9%

Shares of NYSE:AXR opened at $28.31 on Tuesday. The company’s fifty day moving average is $23.00 and its two-hundred day moving average is $22.38. The company has a market cap of $150.30 million, a P/E ratio of 11.79 and a beta of 1.41. AMREP Corporation has a 12-month low of $17.60 and a 12-month high of $28.71.

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

Insider Buying and Selling at AMREP

In other AMREP news, major shareholder James H. Dahl bought 3,200 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The stock was bought at an average cost of $25.69 per share, with a total value of $82,208.00. Following the completion of the transaction, the insider directly owned 470,398 shares of the company’s stock, valued at approximately $12,084,524.62. The trade was a 0.68% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders bought 23,682 shares of company stock worth $568,565. 37.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

AMREP 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.