AMREP (NYSE:AXR) Major Shareholder Buys $83,550.00 in Stock

AMREP Corporation (NYSE:AXR) major shareholder James Dahl purchased 3,000 shares of AMREP stock in a transaction that occurred on Friday, May 1st. The shares were bought at an average price of $27.85 per share, with a total value of $83,550.00. Following the transaction, the insider owned 486,977 shares of the company’s stock, valued at $13,562,309.45. This trade represents a 0.62% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

AMREP Stock Up 0.5%

AXR traded up $0.15 during trading on Friday, hitting $27.70. 18,079 shares of the company traded hands, compared to its average volume of 8,862. The firm has a market cap of $147.08 million, a P/E ratio of 11.54 and a beta of 1.23. The stock’s fifty day moving average is $26.87 and its 200 day moving average is $23.31. AMREP Corporation has a one year low of $17.61 and a one year high of $29.00.

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

Institutional Investors Weigh In On AMREP

Several institutional investors have recently added to or reduced their stakes in AXR. Empowered Funds LLC lifted its holdings in AMREP by 7.4% during the first quarter. Empowered Funds LLC now owns 48,281 shares of the business services provider’s stock valued at $968,000 after purchasing an additional 3,344 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of AMREP by 42.1% in the first quarter. Jane Street Group LLC now owns 10,394 shares of the business services provider’s stock worth $208,000 after buying an additional 3,077 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of AMREP in the first quarter valued at approximately $46,000. Geode Capital Management LLC boosted its position in shares of AMREP by 1.7% in the second quarter. Geode Capital Management LLC now owns 33,566 shares of the business services provider’s stock valued at $703,000 after acquiring an additional 574 shares during the period. Finally, Truffle Hound Capital LLC boosted its position in shares of AMREP by 31.0% in the third quarter. Truffle Hound Capital LLC now owns 150,000 shares of the business services provider’s stock valued at $3,588,000 after acquiring an additional 35,476 shares during the period. 59.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on AXR shares. Freedom Capital downgraded shares of AMREP from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Wall Street Zen raised shares of AMREP to a “hold” rating in a report on Saturday, April 18th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, AMREP currently has a consensus 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.