AMREP (NYSE:AXR) Major Shareholder Acquires $57,515.20 in Stock

AMREP Corporation (NYSE:AXR) major shareholder James Dahl purchased 2,060 shares of the business’s stock in a transaction dated Tuesday, March 31st. The shares were purchased at an average price of $27.92 per share, for a total transaction of $57,515.20. Following the acquisition, the insider owned 476,458 shares of the company’s stock, valued at approximately $13,302,707.36. The trade was a 0.43% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

AMREP Stock Down 0.1%

Shares of NYSE AXR opened at $27.82 on Friday. The firm has a market cap of $147.73 million, a P/E ratio of 11.59 and a beta of 1.23. AMREP Corporation has a twelve month low of $17.60 and a twelve month high of $29.00. The company has a 50 day moving average of $24.91 and a 200 day moving average of $22.94.

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

Institutional Trading of AMREP

Large investors have recently modified their holdings of the company. Gate City Capital Management LLC increased its position in AMREP by 271.0% during the second quarter. Gate City Capital Management LLC now owns 103,583 shares of the business services provider’s stock valued at $2,168,000 after acquiring an additional 75,661 shares during the last quarter. AlphaCentric Advisors LLC bought a new stake in shares of AMREP during the 4th quarter valued at about $1,222,000. Mink Brook Asset Management LLC bought a new stake in shares of AMREP during the 3rd quarter valued at about $1,196,000. Truffle Hound Capital LLC increased its position in shares of AMREP by 31.0% during the 3rd quarter. Truffle Hound Capital LLC now owns 150,000 shares of the business services provider’s stock valued at $3,588,000 after purchasing an additional 35,476 shares during the last quarter. Finally, Citadel Advisors LLC purchased a new stake in shares of AMREP during the 3rd quarter valued at about $453,000. Institutional investors own 59.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of AMREP in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

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.