James Dahl Purchases 6,124 Shares of AMREP (NYSE:AXR) Stock

AMREP Corporation (NYSE:AXR) major shareholder James Dahl bought 6,124 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were acquired at an average price of $21.60 per share, with a total value of $132,278.40. Following the acquisition, the insider owned 440,698 shares of the company’s stock, valued at $9,519,076.80. This represents a 1.41% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

AMREP Stock Up 0.7%

NYSE:AXR opened at $23.85 on Friday. The firm’s fifty day simple moving average is $20.50 and its 200 day simple moving average is $21.93. The stock has a market cap of $126.64 million, a P/E ratio of 12.23 and a beta of 1.44. AMREP Corporation has a twelve month low of $17.60 and a twelve month high of $30.00.

AMREP (NYSE:AXR) last announced its earnings results on Friday, December 12th. The business services provider reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.22). AMREP had a net margin of 22.86% and a return on equity of 7.98%. The company had revenue of $9.40 million for the quarter, compared to the consensus estimate of $14.97 million.

Wall Street Analyst Weigh In

AXR has been the subject of several research reports. Wall Street Zen raised AMREP from a “hold” rating to a “buy” rating in a research report on Sunday, October 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AMREP in a research note on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold”.

Institutional Trading of AMREP

Hedge funds have recently made changes to their positions in the stock. NBC Securities Inc. increased its position in AMREP by 65.0% during the 4th quarter. NBC Securities Inc. now owns 1,650 shares of the business services provider’s stock valued at $31,000 after buying an additional 650 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of AMREP in the first quarter worth $46,000. Jane Street Group LLC increased its holdings 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 valued at $208,000 after acquiring an additional 3,077 shares in the last quarter. Ritholtz Wealth Management raised its position in shares of AMREP by 42.1% in the 2nd quarter. Ritholtz Wealth Management now owns 17,375 shares of the business services provider’s stock worth $364,000 after purchasing an additional 5,144 shares during the last quarter. Finally, Citadel Advisors LLC purchased a new position in shares of AMREP in the 3rd quarter worth about $453,000. 59.85% of the stock is owned by institutional investors.

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.