AMREP (NYSE:AXR) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of AMREP (NYSE:AXR) from a hold rating to a buy rating in a report issued on Monday.

AMREP Trading Up 18.4 %

AXR opened at $26.05 on Monday. AMREP has a 12 month low of $15.38 and a 12 month high of $26.77. The business’s 50-day moving average price is $22.36 and its 200-day moving average price is $21.44. The company has a market cap of $137.31 million, a P/E ratio of 48.24 and a beta of 0.87.

AMREP (NYSE:AXR) last announced its quarterly earnings results on Friday, September 13th. The business services provider reported $0.76 EPS for the quarter. AMREP had a return on equity of 5.85% and a net margin of 13.02%. The business had revenue of $19.09 million for the quarter.

Insider Buying and Selling at AMREP

In other news, major shareholder James H. Dahl acquired 5,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were purchased at an average price of $23.48 per share, for a total transaction of $117,400.00. Following the completion of the transaction, the insider now owns 420,642 shares of the company’s stock, valued at $9,876,674.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other AMREP news, major shareholder James H. Dahl bought 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was bought at an average price of $23.15 per share, for a total transaction of $92,600.00. Following the completion of the acquisition, the insider now directly owns 427,774 shares in the company, valued at $9,902,968.10. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder James H. Dahl purchased 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was bought at an average price of $23.48 per share, for a total transaction of $117,400.00. Following the acquisition, the insider now owns 420,642 shares of the company’s stock, valued at $9,876,674.16. The disclosure for this purchase can be found here. Insiders bought 19,214 shares of company stock valued at $470,229 in the last quarter. Company insiders own 37.00% of the company’s stock.

Institutional Investors Weigh In On AMREP

Institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC increased its position in shares of AMREP by 2.1% during the second quarter. Renaissance Technologies LLC now owns 123,514 shares of the business services provider’s stock valued at $2,336,000 after buying an additional 2,514 shares during the period. Empowered Funds LLC grew its holdings in shares of AMREP by 8.0% during the 1st quarter. Empowered Funds LLC now owns 37,772 shares of the business services provider’s stock worth $878,000 after acquiring an additional 2,800 shares during the period. Gate City Capital Management LLC bought a new position in shares of AMREP in the 4th quarter worth approximately $9,505,000. Finally, Victory Capital Management Inc. bought a new stake in shares of AMREP during the fourth quarter valued at approximately $119,000. 59.85% of the stock is owned by hedge funds and other institutional investors.

AMREP Company Profile

AMREP Corporation, through its subsidiaries, primarily engages in the real estate business. The company operates through two segments, Land Development and Homebuilding. It sells developed and undeveloped lots to homebuilders, commercial and industrial property developers, and others. In addition, the company owns mineral interests covering an area of approximately 55,000 surface acres of land in Sandoval County, New Mexico; and owns oil, gas, and minerals and mineral interests covering an area of approximately 147 surface acres of land in Brighton, Colorado.