Insider Buying: AMREP (NYSE:AXR) Major Shareholder Purchases 1,000 Shares of Stock

AMREP Corporation (NYSE:AXR) major shareholder James Dahl purchased 1,000 shares of the firm’s stock in a transaction on Friday, April 17th. The stock was acquired at an average price of $27.66 per share, with a total value of $27,660.00. Following the completion of the transaction, the insider owned 477,458 shares in the company, valued at approximately $13,206,488.28. This trade represents a 0.21% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

AMREP Stock Up 0.3%

NYSE AXR traded up $0.09 on Monday, hitting $27.36. The company’s stock had a trading volume of 13,674 shares, compared to its average volume of 8,759. AMREP Corporation has a 1-year low of $17.61 and a 1-year high of $29.00. The company’s 50-day moving average is $26.19 and its 200 day moving average is $23.03. The firm has a market cap of $145.28 million, a PE ratio of 11.40 and a beta of 1.23.

AMREP (NYSE:AXR) last announced its quarterly earnings results on Thursday, March 12th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $14.03 million.

Institutional Investors Weigh In On AMREP

Large investors have recently added to or reduced their stakes in the business. NBC Securities Inc. grew its stake in AMREP by 65.0% during the fourth quarter. NBC Securities Inc. now owns 1,650 shares of the business services provider’s stock worth $31,000 after purchasing an additional 650 shares during the period. Acadian Asset Management LLC acquired a new stake in AMREP during the first quarter worth approximately $46,000. Barclays PLC grew its stake in AMREP by 781.7% during the fourth quarter. Barclays PLC now owns 2,795 shares of the business services provider’s stock worth $53,000 after purchasing an additional 2,478 shares during the period. Jane Street Group LLC grew its stake 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 purchasing an additional 3,077 shares during the period. Finally, Citadel Advisors LLC acquired a new stake in AMREP during the third quarter worth approximately $453,000. Institutional investors and hedge funds own 59.85% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on AXR shares. Wall Street Zen raised shares of AMREP to a “hold” rating in a research report on Saturday. Weiss Ratings reissued a “hold (c)” rating on shares of AMREP in a research report on Monday, December 29th. Finally, Freedom Capital downgraded shares of AMREP from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average 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.