AMREP (NYSE:AXR) Major Shareholder Purchases $104,640.00 in Stock

AMREP Corporation (NYSE:AXR) major shareholder James Dahl purchased 4,000 shares of AMREP stock in a transaction dated Friday, May 29th. The stock was bought at an average price of $26.16 per share, with a total value of $104,640.00. Following the completion of the transaction, the insider owned 497,133 shares of the company’s stock, valued at $13,004,999.28. This represents a 0.81% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

AMREP Stock Performance

Shares of NYSE AXR opened at $24.99 on Monday. The stock has a fifty day moving average of $26.93 and a 200-day moving average of $23.71. AMREP Corporation has a fifty-two week low of $17.61 and a fifty-two week high of $29.01. The stock has a market cap of $132.71 million, a PE ratio of 10.41 and a beta of 1.11.

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

Hedge Funds Weigh In On AMREP

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Robotti Robert boosted its holdings in shares of AMREP by 0.8% in the 4th quarter. Robotti Robert now owns 521,765 shares of the business services provider’s stock worth $9,809,000 after purchasing an additional 4,327 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of AMREP by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 195,226 shares of the business services provider’s stock worth $3,670,000 after purchasing an additional 527 shares in the last quarter. Cerity Partners LLC boosted its holdings in shares of AMREP by 0.4% in the 4th quarter. Cerity Partners LLC now owns 169,022 shares of the business services provider’s stock worth $3,178,000 after purchasing an additional 665 shares in the last quarter. Truffle Hound Capital LLC boosted its holdings in shares of AMREP by 31.0% in the 3rd quarter. Truffle Hound Capital LLC now owns 150,000 shares of the business services provider’s stock worth $3,588,000 after purchasing an additional 35,476 shares in the last quarter. Finally, Crossingbridge Advisors LLC boosted its holdings in shares of AMREP by 30.0% in 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 in the last quarter. 59.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AXR has been the topic of a number of recent analyst reports. Wall Street Zen raised 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 report on Tuesday, April 7th. Finally, Weiss Ratings upgraded AMREP from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently 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.