Insider Buying: AMREP (NYSE:AXR) Major Shareholder Buys 2,060 Shares of Stock

AMREP Corporation (NYSE:AXR) major shareholder James Dahl acquired 2,060 shares of the business’s stock in a transaction dated Tuesday, March 31st. The stock was purchased at an average price of $27.92 per share, with a total value of $57,515.20. Following the completion of the transaction, the insider directly owned 476,458 shares of the company’s stock, valued at $13,302,707.36. This trade represents a 0.43% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

AMREP Stock Performance

AMREP stock traded down $0.23 during midday trading on Thursday, reaching $27.82. 4,998 shares of the stock were exchanged, compared to its average volume of 7,449. AMREP Corporation has a 52 week low of $17.60 and a 52 week high of $29.00. The firm has a market cap of $147.73 million, a PE ratio of 11.59 and a beta of 1.23. The company’s fifty day moving average is $24.64 and its 200-day moving average is $22.90.

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

Hedge Funds Weigh In On AMREP

A number of large investors have recently added to or reduced their stakes in the business. Peapod Lane Capital LLC boosted its position in 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 buying an additional 503 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of AMREP by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 195,226 shares of the business services provider’s stock worth $3,670,000 after buying an additional 527 shares during the period. Geode Capital Management LLC lifted its stake 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 valued at $703,000 after acquiring an additional 574 shares during the last quarter. NBC Securities Inc. lifted its stake in shares of AMREP by 65.0% in the 4th quarter. NBC Securities Inc. now owns 1,650 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 650 shares during the last quarter. Finally, Cerity Partners LLC boosted its holdings in AMREP by 0.4% during the 4th quarter. Cerity Partners LLC now owns 169,022 shares of the business services provider’s stock valued at $3,178,000 after acquiring an additional 665 shares during the period. Hedge funds and other institutional investors own 59.85% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated 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 MarketBeat.com, the stock presently has a consensus rating of “Hold”.

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.