AMREP (NYSE:AXR) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Shares of AMREP Corporation (NYSE:AXR) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $24.67 and traded as high as $25.34. AMREP shares last traded at $25.04, with a volume of 5,596 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have commented on AXR shares. Wall Street Zen upgraded shares of AMREP from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Freedom Capital downgraded shares of AMREP from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, Weiss Ratings raised shares of AMREP from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

AMREP Stock Performance

The firm has a 50 day moving average of $25.72 and a 200-day moving average of $24.67. The stock has a market capitalization of $134.69 million, a PE ratio of 10.57 and a beta of 1.12.

Insider Transactions at AMREP

In related news, Director Timothy S. Mcnaney acquired 1,765 shares of the company’s stock in a transaction on Tuesday, April 21st. The shares were purchased at an average price of $28.17 per share, for a total transaction of $49,720.05. Following the purchase, the director owned 1,765 shares in the company, valued at $49,720.05. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder James H. Dahl bought 5,000 shares of the firm’s stock in a transaction on Wednesday, April 29th. The shares were bought at an average cost of $27.74 per share, with a total value of $138,700.00. Following the purchase, the insider directly owned 483,977 shares in the company, valued at approximately $13,425,521.98. This trade represents a 1.04% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 25,515 shares of company stock worth $675,398 in the last quarter. 37.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Mink Brook Asset Management LLC bought a new stake in shares of AMREP in the 3rd quarter valued at approximately $1,196,000. AlphaCentric Advisors LLC acquired a new stake in AMREP in the fourth quarter valued at approximately $1,222,000. Cerity Partners LLC grew its position in AMREP by 0.4% in the fourth quarter. Cerity Partners LLC now owns 169,022 shares of the business services provider’s stock worth $3,178,000 after acquiring an additional 665 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of AMREP by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 34,202 shares of the business services provider’s stock worth $643,000 after purchasing an additional 720 shares during the last quarter. Finally, Susquehanna International Group LLP raised its holdings in shares of AMREP by 36.2% during the 3rd quarter. Susquehanna International Group LLP now owns 21,989 shares of the business services provider’s stock valued at $526,000 after purchasing an additional 5,840 shares in the last quarter. Hedge funds and other institutional investors own 59.85% of the company’s stock.

AMREP Company Profile

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.