Empowered Funds LLC Invests $1.23 Million in AMREP Corporation $AXR

Empowered Funds LLC purchased a new stake in AMREP Corporation (NYSE:AXR) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 48,565 shares of the business services provider’s stock, valued at approximately $1,225,000.

Other institutional investors have also modified their holdings of the company. JB Capital Partners LP bought a new position in AMREP in the second quarter worth about $3,565,099. Robotti Robert acquired a new position in AMREP in the second quarter valued at approximately $13,159,000. Marquette Asset Management LLC bought a new position in shares of AMREP during the second quarter valued at approximately $164,000. Geode Capital Management LLC raised its position 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 period. Finally, Crossingbridge Advisors LLC raised its position in shares of AMREP by 30.0% during the 4th quarter. Crossingbridge Advisors LLC now owns 65,000 shares of the business services provider’s stock worth $1,222,000 after purchasing an additional 15,000 shares during the period. Institutional investors own 59.85% of the company’s stock.

AMREP Trading Up 0.7%

Shares of NYSE:AXR opened at $23.12 on Friday. The firm’s 50 day moving average is $23.92 and its two-hundred day moving average is $25.49. The firm has a market capitalization of $123.00 million, a P/E ratio of 12.17 and a beta of 1.10. AMREP Corporation has a 52 week low of $17.61 and a 52 week high of $29.01.

AMREP (NYSE:AXR) last issued its quarterly earnings data on Friday, July 24th. The business services provider reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.20). AMREP had a return on equity of 7.47% and a net margin of 19.47%.The business had revenue of $11.02 million for the quarter, compared to analyst estimates of $12.36 million.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered AMREP from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, July 28th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, AMREP has a consensus rating of “Hold”.

Insiders Place Their Bets

In related news, CFO Adrienne Uleau sold 4,000 shares of AMREP 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 sale, the chief financial officer directly owned 6,574 shares in the company, valued at $154,423.26. The trade was a 37.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder James H. Dahl acquired 3,075 shares of AMREP stock in a transaction that occurred on Monday, June 22nd. The stock was bought at an average cost of $25.58 per share, with a total value of $78,658.50. Following the acquisition, the insider directly owned 501,708 shares of the company’s stock, valued at approximately $12,833,690.64. This trade represents a 0.62% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 37.40% 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.