AlphaCentric Advisors LLC Cuts Holdings in AMREP Corporation $AXR

AlphaCentric Advisors LLC cut its position in AMREP Corporation (NYSE:AXR) by 31.5% during the first quarter, HoldingsChannel reports. The firm owned 44,496 shares of the business services provider’s stock after selling 20,504 shares during the quarter. AMREP accounts for 1.2% of AlphaCentric Advisors LLC’s holdings, making the stock its 14th biggest position. AlphaCentric Advisors LLC’s holdings in AMREP were worth $1,252,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake 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 valued at $3,670,000 after buying an additional 527 shares during the last quarter. Geode Capital Management LLC raised its position in AMREP by 1.7% in the second quarter. Geode Capital Management LLC now owns 33,566 shares of the business services provider’s stock worth $703,000 after acquiring an additional 574 shares in the last quarter. NBC Securities Inc. lifted its stake in shares of AMREP by 65.0% in the fourth quarter. NBC Securities Inc. now owns 1,650 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 650 shares during the period. Cerity Partners LLC lifted its position in shares of AMREP by 0.4% during the 4th quarter. Cerity Partners LLC now owns 169,022 shares of the business services provider’s stock valued at $3,178,000 after acquiring an additional 665 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in AMREP during the first quarter worth $46,000. 59.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder James H. Dahl acquired 3,075 shares of AMREP stock in a transaction on Monday, June 22nd. The shares were purchased at an average cost of $25.58 per share, for a total transaction of $78,658.50. Following the purchase, the insider directly owned 501,708 shares of the company’s stock, valued at $12,833,690.64. The trade was a 0.62% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy S. Mcnaney acquired 1,765 shares of the stock in a transaction that occurred on Tuesday, April 21st. The stock was purchased at an average cost of $28.17 per share, with a total value of $49,720.05. Following the completion of the acquisition, the director owned 1,765 shares of the company’s stock, valued at $49,720.05. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought 22,996 shares of company stock valued at $606,345 in the last three months. Corporate insiders own 37.20% of the company’s stock.

AMREP Trading Up 0.6%

AXR opened at $25.75 on Monday. AMREP Corporation has a twelve month low of $17.61 and a twelve month high of $29.01. The company has a fifty day simple moving average of $25.61 and a 200 day simple moving average of $24.96. The firm has a market cap of $136.71 million, a price-to-earnings ratio of 10.73 and a beta of 1.12.

Analyst Ratings Changes

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

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.