AMREP (NYSE:AXR) Shares Pass Above 200-Day Moving Average – Here’s What Happened

AMREP Corporation (NYSE:AXR) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $24.67 and traded as high as $25.34. AMREP shares last traded at $25.04, with a volume of 5,596 shares traded.

Analysts Set New Price Targets

A number of research analysts recently commented on AXR shares. Wall Street Zen raised AMREP from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Freedom Capital lowered AMREP from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Finally, Weiss Ratings upgraded AMREP from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold”.

AMREP Stock Down 1.6%

The business’s 50-day simple moving average is $25.76 and its 200 day simple moving average is $24.67. The firm has a market capitalization of $132.96 million, a P/E ratio of 10.43 and a beta of 1.12.

Insider Buying and Selling

In other AMREP news, Director Timothy S. Mcnaney acquired 1,765 shares of the business’s stock in a transaction dated Tuesday, April 21st. The stock was bought at an average price of $28.17 per share, with a total value of $49,720.05. Following the purchase, the director owned 1,765 shares of the company’s stock, valued at approximately $49,720.05. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder James H. Dahl bought 3,075 shares of AMREP stock in a transaction that occurred on Monday, June 22nd. The shares were acquired at an average cost of $25.58 per share, for a total transaction of $78,658.50. Following the acquisition, the insider owned 501,708 shares in the company, valued at $12,833,690.64. The trade was a 0.62% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders bought 25,515 shares of company stock valued at $675,398. Company insiders own 37.20% of the company’s stock.

Institutional Trading of AMREP

Institutional investors have recently added to or reduced their stakes in the business. Barclays PLC grew its stake in shares of AMREP by 781.7% during the fourth quarter. Barclays PLC now owns 2,795 shares of the business services provider’s stock valued at $53,000 after buying an additional 2,478 shares during the last quarter. Crossingbridge Advisors LLC lifted its stake in shares of AMREP by 30.0% in the 4th quarter. Crossingbridge Advisors LLC now owns 65,000 shares of the business services provider’s stock valued at $1,222,000 after acquiring an additional 15,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of AMREP by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 195,226 shares of the business services provider’s stock valued at $3,670,000 after acquiring an additional 527 shares during the last quarter. AlphaCentric Advisors LLC bought a new stake in shares of AMREP in the 4th quarter valued at about $1,222,000. Finally, Robotti Robert boosted its holdings in AMREP by 0.8% during the 4th quarter. Robotti Robert now owns 521,765 shares of the business services provider’s stock valued at $9,809,000 after acquiring an additional 4,327 shares during the period. 59.85% of the stock is currently owned by hedge funds and other institutional investors.

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.