Robotti Robert Takes Position in AMREP Corporation $AXR

Robotti Robert purchased a new position in shares of AMREP Corporation (NYSE:AXR) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 521,765 shares of the business services provider’s stock, valued at approximately $13,159,000. AMREP comprises approximately 2.1% of Robotti Robert’s holdings, making the stock its 14th largest position. Robotti Robert owned approximately 0.10% of AMREP at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. AlphaCentric Advisors LLC purchased a new position in AMREP in the 4th quarter valued at approximately $1,222,000. BlackRock Inc. purchased a new stake in AMREP during the second quarter worth $561,000. Citadel Advisors LLC purchased a new stake in AMREP during the third quarter worth $453,000. Crossingbridge Advisors LLC grew its holdings in AMREP by 30.0% in the fourth quarter. Crossingbridge Advisors LLC now owns 65,000 shares of the business services provider’s stock valued at $1,222,000 after purchasing an additional 15,000 shares during the last quarter. Finally, Marquette Asset Management LLC acquired a new stake in AMREP in the second quarter valued at $164,000. Institutional investors and hedge funds own 59.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AXR. Wall Street Zen upgraded AMREP from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Weiss Ratings lowered shares of AMREP from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, July 28th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, AMREP has an average rating of “Hold”.

Insider Buying and Selling

In other AMREP news, CFO Adrienne Uleau sold 4,000 shares of AMREP stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $23.49, for a total value of $93,960.00. Following the completion of the sale, the chief financial officer directly owned 6,574 shares of the company’s stock, valued at approximately $154,423.26. The trade was a 37.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder James H. Dahl bought 3,075 shares of the stock in a transaction on Monday, June 22nd. The stock was purchased at an average cost of $25.58 per share, with a total value of $78,658.50. Following the completion of the purchase, the insider directly owned 501,708 shares in the company, valued at $12,833,690.64. This trade represents a 0.62% increase in their position. The disclosure for this purchase is available in the SEC filing. 37.40% of the stock is currently owned by company insiders.

AMREP Price Performance

AMREP stock opened at $23.04 on Wednesday. AMREP Corporation has a 12-month low of $17.61 and a 12-month high of $29.01. The stock has a market capitalization of $122.59 million, a P/E ratio of 12.13 and a beta of 1.12. The firm’s 50-day moving average is $24.52 and its two-hundred day moving average is $25.40.

AMREP (NYSE:AXR) last issued its quarterly earnings results on Friday, July 24th. The business services provider reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.20). The firm had revenue of $11.02 million for the quarter, compared to analysts’ expectations of $12.36 million. AMREP had a return on equity of 7.47% and a net margin of 19.47%.

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.