AMREP (NYSE:AXR) Major Shareholder James Dahl Acquires 4,000 Shares of Stock

AMREP Corporation (NYSE:AXR) major shareholder James Dahl purchased 4,000 shares of the business’s stock in a transaction on Friday, May 29th. The stock was purchased at an average cost of $26.16 per share, with a total value of $104,640.00. Following the acquisition, the insider owned 497,133 shares in the company, valued at approximately $13,004,999.28. This represents a 0.81% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 Down 7.5%

AMREP stock opened at $24.99 on Friday. The business has a 50 day moving average price of $26.93 and a two-hundred day moving average price of $23.69. The stock has a market cap of $132.71 million, a price-to-earnings ratio of 10.41 and a beta of 1.15. AMREP Corporation has a 12 month low of $17.61 and a 12 month high of $29.01.

AMREP (NYSE:AXR) last posted its quarterly earnings results on Thursday, March 12th. The business services provider reported $0.58 EPS for the quarter, beating 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 firm had revenue of $14.57 million during the quarter, compared to analysts’ expectations of $14.03 million.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AXR. Weiss Ratings upgraded shares of AMREP from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday. Freedom Capital cut shares of AMREP from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Finally, Wall Street Zen raised AMREP from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold”.

Hedge Funds Weigh In On AMREP

Hedge funds have recently modified their holdings of the stock. NBC Securities Inc. increased its position in shares of AMREP by 65.0% during the 4th quarter. NBC Securities Inc. now owns 1,650 shares of the business services provider’s stock worth $31,000 after purchasing an additional 650 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of AMREP during the 1st quarter worth about $46,000. Barclays PLC increased its position in shares of AMREP by 781.7% during the 4th 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 in the last quarter. Jane Street Group LLC increased its position in shares of AMREP by 42.1% during the 1st quarter. Jane Street Group LLC now owns 10,394 shares of the business services provider’s stock worth $208,000 after purchasing an additional 3,077 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new stake in shares of AMREP during the 3rd quarter worth about $453,000. 59.85% of the stock is owned by institutional investors and hedge funds.

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.