Insider Buying: AMREP (NYSE:AXR) Major Shareholder Acquires 4,358 Shares of Stock

AMREP Corporation (NYSE:AXR) major shareholder James Dahl bought 4,358 shares of AMREP stock in a transaction on Thursday, February 12th. The shares were bought at an average cost of $23.71 per share, with a total value of $103,328.18. Following the acquisition, the insider directly owned 448,056 shares in the company, valued at approximately $10,623,407.76. This represents a 0.98% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

AMREP Stock Performance

AXR traded up $0.16 during midday trading on Friday, hitting $23.85. The stock had a trading volume of 3,853 shares, compared to its average volume of 3,802. AMREP Corporation has a 1 year low of $17.60 and a 1 year high of $30.00. The business has a fifty day moving average of $20.45 and a 200 day moving average of $21.92. The company has a market cap of $126.64 million, a P/E ratio of 12.23 and a beta of 1.44.

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

Institutional Trading of AMREP

Several institutional investors have recently added to or reduced their stakes in AXR. NBC Securities Inc. lifted its holdings in shares of AMREP by 65.0% during 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 in the last quarter. Acadian Asset Management LLC purchased a new position in AMREP in the 1st quarter worth about $46,000. Jane Street Group LLC lifted its stake in AMREP by 42.1% during the 1st 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 during the period. Ritholtz Wealth Management lifted its stake in AMREP by 42.1% during the 2nd quarter. Ritholtz Wealth Management now owns 17,375 shares of the business services provider’s stock valued at $364,000 after acquiring an additional 5,144 shares during the period. Finally, Citadel Advisors LLC purchased a new stake in AMREP in the third quarter worth approximately $453,000. 59.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on AXR shares. Wall Street Zen raised shares of AMREP from a “hold” rating to a “buy” rating in a research report on Sunday, October 19th. Weiss Ratings restated a “hold (c)” rating on shares of AMREP in a report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus 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.