AMREP (NYSE:AXR) Shares Cross Above 200-Day Moving Average – Here’s What Happened

AMREP Corporation (NYSE:AXR)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $23.85 and traded as high as $26.14. AMREP shares last traded at $25.5450, with a volume of 3,466 shares.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of AMREP from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Freedom Capital lowered shares of AMREP from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Finally, Weiss Ratings upgraded shares of AMREP from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, AMREP currently has an average rating of “Hold”.

AMREP Stock Down 0.9%

The company’s fifty day moving average price is $26.74 and its 200-day moving average price is $23.85. The stock has a market capitalization of $135.64 million, a PE ratio of 10.64 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 for the quarter, beating the consensus estimate of $0.57 by $0.01. The company had revenue of $14.57 million during 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%.

Insider Buying and Selling

In related news, Director Timothy S. Mcnaney bought 1,765 shares of the business’s stock in a transaction on Tuesday, April 21st. The stock was acquired at an average price of $28.17 per share, with a total value of $49,720.05. Following the transaction, the director owned 1,765 shares in the company, valued at approximately $49,720.05. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder James H. Dahl bought 4,000 shares of the business’s stock in a transaction on Friday, May 29th. The stock was bought at an average cost of $26.16 per share, with a total value of $104,640.00. Following the transaction, the insider owned 497,133 shares in the company, valued at $13,004,999.28. This trade represents a 0.81% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders acquired 28,500 shares of company stock valued at $759,454. 37.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Robotti Robert boosted its position in AMREP by 0.8% in the fourth 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 during the last quarter. Dimensional Fund Advisors LP boosted its position in AMREP by 0.3% in the fourth 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 during the last quarter. Cerity Partners LLC boosted its position in AMREP by 0.4% in the fourth 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 during the last quarter. Truffle Hound Capital LLC boosted its position in AMREP by 31.0% in the third 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 during the last quarter. Finally, Crossingbridge Advisors LLC boosted its position in AMREP by 30.0% in the fourth 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 last quarter. 59.85% of the stock is owned by hedge funds and other institutional investors.

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.