AMREP (NYSE:AXR) Director Timothy Mcnaney Acquires 1,765 Shares

AMREP Corporation (NYSE:AXR) Director Timothy Mcnaney acquired 1,765 shares of the company’s stock in a transaction on Tuesday, April 21st. The stock was acquired at an average price of $28.17 per share, with a total value of $49,720.05. Following the acquisition, the director owned 1,765 shares in the company, valued at approximately $49,720.05. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

AMREP Trading Down 0.1%

NYSE AXR traded down $0.04 on Wednesday, hitting $27.98. The company’s stock had a trading volume of 2,448 shares, compared to its average volume of 8,639. AMREP Corporation has a 52-week low of $17.61 and a 52-week high of $29.00. The company’s 50-day simple moving average is $26.42 and its 200 day simple moving average is $23.09. The firm has a market cap of $148.57 million, a P/E ratio of 11.66 and a beta of 1.23.

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

Institutional Investors Weigh In On AMREP

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC grew its holdings in AMREP by 781.7% in 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. Crossingbridge Advisors LLC increased its position in AMREP by 30.0% during the 4th quarter. Crossingbridge Advisors LLC now owns 65,000 shares of the business services provider’s stock valued at $1,222,000 after buying an additional 15,000 shares in the last quarter. Dimensional Fund Advisors LP increased its position in AMREP by 0.3% during 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 buying an additional 527 shares in the last quarter. AlphaCentric Advisors LLC bought a new position in AMREP during the 4th quarter valued at approximately $1,222,000. Finally, Robotti Robert increased its position 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 buying an additional 4,327 shares in the last quarter. Hedge funds and other institutional investors own 59.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AXR. Freedom Capital cut AMREP from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Wall Street Zen upgraded AMREP to a “hold” rating in a research note on Saturday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of AMREP in a research note on Monday, December 29th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company 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.