AMREP (NYSE:AXR) Upgraded to “Sell” at Wall Street Zen

Wall Street Zen upgraded shares of AMREP (NYSE:AXR) from a strong sell rating to a sell rating in a research report report published on Sunday,Wall Street Zen reports.

Several other research analysts have also recently issued reports on the stock. Weiss Ratings cut shares of AMREP from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, September 18th. Freedom Broker lowered their price objective on shares of AMREP from $26.00 to $22.00 and set a “hold” rating on the stock in a research note on Tuesday, September 15th. Three investment analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.00.

AMREP Stock Performance

Shares of AXR opened at $20.70 on Friday. AMREP has a one year low of $17.61 and a one year high of $29.01. The stock’s fifty day moving average is $22.55 and its 200-day moving average is $24.86. The firm has a market capitalization of $110.12 million, a price-to-earnings ratio of 19.17 and a beta of 1.15.

AMREP (NYSE:AXR) last posted its quarterly earnings data on Friday, September 11th. The business services provider reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.39). The company had revenue of $6.05 million during the quarter, compared to analyst estimates of $14.27 million. AMREP had a return on equity of 4.21% and a net margin of 14.31%.

Insiders Place Their Bets

In other news, CFO Adrienne Uleau sold 4,000 shares of the firm’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $23.49, for a total transaction of $93,960.00. Following the completion of the transaction, the chief financial officer owned 6,574 shares in the company, valued at approximately $154,423.26. This trade represents a 37.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 37.40% of the company’s stock.

Institutional Trading of AMREP

A number of hedge funds and other institutional investors have recently made changes to their positions in AXR. Allworth Financial LP bought a new stake in AMREP during the second quarter worth approximately $45,000. Marquette Asset Management LLC bought a new position in shares of AMREP in the second quarter valued at $164,000. BlackRock Inc. bought a new position in shares of AMREP in the second quarter valued at $561,000. Empowered Funds LLC bought a new position in shares of AMREP in the second quarter valued at $1,225,000. Finally, JB Capital Partners LP bought a new position in shares of AMREP in the second quarter valued at $3,565,099. 59.85% of the stock is currently owned by institutional investors.

About AMREP

AMREP Corporation (NYSE:AXR) is a diversified company with operations in fulfillment services and real estate. Through its fulfillment businesses, the company provides subscription and membership fulfillment, direct-mail services, customer contact and support, data processing, printing, and related distribution services for publishers, membership organizations, and other clients.

AMREP’s real estate operations are conducted primarily through subsidiaries involved in the acquisition, development, and sale of residential and commercial land.