AMREP (NYSE:AXR) Stock Price Crosses Above 200-Day Moving Average – Time to Sell?

AMREP Corporation (NYSE:AXR)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $22.68 and traded as high as $28.57. AMREP shares last traded at $27.9950, with a volume of 20,487 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of AMREP in a research note on Monday, December 29th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, AMREP has a consensus rating of “Hold”.

AMREP Price Performance

The firm has a market cap of $148.65 million, a P/E ratio of 11.66 and a beta of 1.41. The company’s 50-day simple moving average is $23.91 and its 200 day simple moving average is $22.68.

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

Insiders Place Their Bets

In related news, major shareholder James H. Dahl acquired 3,200 shares of AMREP stock in a transaction on Tuesday, March 3rd. The shares were bought at an average cost of $25.69 per share, with a total value of $82,208.00. Following the completion of the purchase, the insider directly owned 470,398 shares of the company’s stock, valued at $12,084,524.62. The trade was a 0.68% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders purchased 23,682 shares of company stock worth $568,565 over the last quarter. Insiders own 37.20% of the company’s stock.

Hedge Funds Weigh In On AMREP

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Empowered Funds LLC increased its position in shares of AMREP by 7.4% during the 1st quarter. Empowered Funds LLC now owns 48,281 shares of the business services provider’s stock valued at $968,000 after purchasing an additional 3,344 shares during the last quarter. Jane Street Group LLC lifted its position in AMREP by 42.1% in the first quarter. Jane Street Group LLC now owns 10,394 shares of the business services provider’s stock worth $208,000 after buying an additional 3,077 shares during the last quarter. Acadian Asset Management LLC purchased a new position in AMREP during the first quarter worth $46,000. Geode Capital Management LLC increased its position in AMREP by 1.7% during the second quarter. Geode Capital Management LLC now owns 33,566 shares of the business services provider’s stock valued at $703,000 after acquiring an additional 574 shares during the last quarter. Finally, Crossingbridge Advisors LLC raised its stake in shares of AMREP by 17.6% in the second quarter. Crossingbridge Advisors LLC now owns 50,000 shares of the business services provider’s stock valued at $1,046,000 after acquiring an additional 7,500 shares during the period. Hedge funds and other institutional investors own 59.85% of the company’s stock.

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.