Insider Buying: AMREP (NYSE:AXR) Major Shareholder Buys 1,156 Shares of Stock

AMREP Corporation (NYSE:AXR) major shareholder James Dahl bought 1,156 shares of AMREP stock in a transaction on Wednesday, May 13th. The stock was acquired at an average price of $24.72 per share, with a total value of $28,576.32. Following the completion of the purchase, the insider directly owned 488,133 shares of the company’s stock, valued at approximately $12,066,647.76. The trade was a 0.24% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

AMREP Trading Up 3.1%

NYSE AXR traded up $0.75 during trading on Friday, reaching $25.09. The company’s stock had a trading volume of 9,827 shares, compared to its average volume of 8,670. The stock has a market capitalization of $133.23 million, a PE ratio of 10.45 and a beta of 1.15. The business has a 50-day moving average price of $26.81 and a 200-day moving average price of $23.40. AMREP Corporation has a 1-year low of $17.61 and a 1-year high of $29.00.

AMREP (NYSE:AXR) last posted its earnings results on Thursday, March 12th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The firm 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%.

Hedge Funds Weigh In On AMREP

A number of institutional investors have recently modified their holdings of AXR. NBC Securities Inc. raised its position in shares of AMREP by 65.0% in the fourth quarter. NBC Securities Inc. now owns 1,650 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 650 shares during the period. Acadian Asset Management LLC bought a new position in shares of AMREP in the first quarter valued at approximately $46,000. Barclays PLC raised its position in shares of AMREP by 781.7% in the fourth quarter. Barclays PLC now owns 2,795 shares of the business services provider’s stock valued at $53,000 after purchasing an additional 2,478 shares during the period. Jane Street Group LLC increased its position 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. Finally, Citadel Advisors LLC bought a new position in AMREP during the third quarter worth $453,000. Institutional investors own 59.85% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on AXR shares. Wall Street Zen upgraded shares of AMREP from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Freedom Capital lowered shares of AMREP from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, AMREP 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.