AMREP (NYSE:AXR) Share Price Passes Above 200-Day Moving Average – Here’s What Happened

AMREP Corporation (NYSE:AXR)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $24.91 and traded as high as $26.28. AMREP shares last traded at $25.7450, with a volume of 12,223 shares changing hands.

Analyst Ratings Changes

Several research firms have recently issued reports on AXR. Wall Street Zen raised shares of AMREP from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Freedom Capital lowered 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 note on Tuesday, May 26th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, AMREP has a consensus rating of “Hold”.

AMREP Price Performance

The company has a market capitalization of $136.58 million, a PE ratio of 10.73 and a beta of 1.12. The company’s 50 day simple moving average is $25.61 and its 200 day simple moving average is $24.91.

Insider Buying and Selling at AMREP

In related news, major shareholder James H. Dahl bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average cost of $24.50 per share, with a total value of $122,500.00. Following the transaction, the insider directly owned 493,133 shares of the company’s stock, valued at approximately $12,081,758.50. This represents a 1.02% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Timothy S. Mcnaney purchased 1,765 shares of the business’s stock in a transaction that occurred on Tuesday, April 21st. The shares were bought at an average price of $28.17 per share, for a total transaction of $49,720.05. Following the completion of the purchase, the director directly owned 1,765 shares in the company, valued at $49,720.05. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders bought 24,515 shares of company stock valued at $647,738. Company insiders own 37.20% of the company’s stock.

Institutional Trading of AMREP

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. AlphaCentric Advisors LLC purchased a new stake in AMREP in the 4th quarter valued at $1,222,000. Citadel Advisors LLC purchased a new stake in shares of AMREP in the third quarter valued at about $453,000. Crossingbridge Advisors LLC boosted its stake in shares of AMREP by 30.0% during the fourth quarter. Crossingbridge Advisors LLC now owns 65,000 shares of the business services provider’s stock worth $1,222,000 after buying an additional 15,000 shares during the period. Marquette Asset Management LLC purchased a new position in shares of AMREP during the second quarter worth about $164,000. Finally, Susquehanna International Group LLP increased its position in AMREP by 36.2% in the 3rd quarter. Susquehanna International Group LLP now owns 21,989 shares of the business services provider’s stock valued at $526,000 after acquiring an additional 5,840 shares during the period. Institutional investors and hedge funds 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.