AMREP (NYSE:AXR) Stock Price Passes Above 200-Day Moving Average – What’s Next?

AMREP Co. (NYSE:AXR) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $23.19 and traded as high as $31.52. AMREP shares last traded at $31.22, with a volume of 37,853 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded AMREP from a “hold” rating to a “buy” rating in a report on Monday, September 16th.

AMREP Stock Up 1.4 %

The company has a 50-day moving average of $27.34 and a 200 day moving average of $23.19. The stock has a market capitalization of $165.15 million, a PE ratio of 17.74 and a beta of 0.89.

AMREP (NYSE:AXR) last released its earnings results on Friday, September 13th. The business services provider reported $0.76 earnings per share (EPS) for the quarter. The business had revenue of $19.09 million during the quarter. AMREP had a net margin of 15.64% and a return on equity of 8.05%.

Insider Buying and Selling at AMREP

In related news, 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 purchased at an average price of $23.48 per share, with a total value of $117,400.00. Following the completion of the acquisition, the insider now owns 420,642 shares in the company, valued at $9,876,674.16. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. In other news, major shareholder James H. Dahl purchased 5,000 shares of the stock in a transaction dated Thursday, August 8th. The shares were purchased at an average price of $23.48 per share, with a total value of $117,400.00. Following the transaction, the insider now owns 420,642 shares in the company, valued at $9,876,674.16. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder James H. Dahl acquired 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were purchased at an average price of $30.75 per share, with a total value of $92,250.00. Following the completion of the transaction, the insider now owns 430,774 shares of the company’s stock, valued at $13,246,300.50. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 15,800 shares of company stock worth $415,560. Insiders own 37.60% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in AMREP stock. Empowered Funds LLC lifted its holdings in shares of AMREP Co. (NYSE:AXR) by 8.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,772 shares of the business services provider’s stock after purchasing an additional 2,800 shares during the quarter. Empowered Funds LLC owned about 0.72% of AMREP worth $878,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 59.85% of the company’s stock.

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.