AMREP (NYSE:AXR) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of AMREP (NYSE:AXR) from a hold rating to a buy rating in a research note published on Monday.

AMREP Stock Performance

Shares of NYSE AXR opened at $26.05 on Monday. AMREP has a fifty-two week low of $15.38 and a fifty-two week high of $26.77. The stock has a market cap of $137.31 million, a PE ratio of 48.24 and a beta of 0.87. The stock has a fifty day moving average of $22.36 and a 200-day moving average of $21.44.

AMREP (NYSE:AXR) last posted its earnings results on Friday, September 13th. The business services provider reported $0.76 earnings per share for the quarter. AMREP had a return on equity of 5.85% and a net margin of 13.02%. The business had revenue of $19.09 million during the quarter.

Insider Buying and Selling

In other news, major shareholder James H. Dahl purchased 4,000 shares of AMREP stock in a transaction dated Tuesday, August 27th. The stock was purchased at an average cost of $23.15 per share, for a total transaction of $92,600.00. Following the transaction, the insider now directly owns 427,774 shares of the company’s stock, valued at $9,902,968.10. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, major shareholder James H. Dahl bought 5,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were acquired at an average cost of $23.48 per share, with a total value of $117,400.00. Following the completion of the purchase, the insider now directly owns 420,642 shares of the company’s stock, valued at approximately $9,876,674.16. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder James H. Dahl bought 4,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were bought at an average price of $23.15 per share, with a total value of $92,600.00. Following the completion of the transaction, the insider now owns 427,774 shares of the company’s stock, valued at $9,902,968.10. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 19,214 shares of company stock valued at $470,229. Company insiders own 37.00% of the company’s stock.

Institutional Trading of AMREP

Several institutional investors and hedge funds have recently made changes to their positions in AXR. Gate City Capital Management LLC bought a new position in AMREP in the fourth quarter valued at $9,505,000. Victory Capital Management Inc. bought a new position in shares of AMREP during the 4th quarter valued at about $119,000. Empowered Funds LLC raised its holdings in shares of AMREP by 8.0% during the 1st quarter. Empowered Funds LLC now owns 37,772 shares of the business services provider’s stock valued at $878,000 after buying an additional 2,800 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in AMREP by 2.1% in the 2nd quarter. Renaissance Technologies LLC now owns 123,514 shares of the business services provider’s stock worth $2,336,000 after buying an additional 2,514 shares during the last quarter. Hedge funds and other institutional investors own 59.85% of the company’s stock.

About AMREP

AMREP Corporation, through its subsidiaries, primarily engages in the real estate business. The company operates through two segments, Land Development and Homebuilding. It sells developed and undeveloped lots to homebuilders, commercial and industrial property developers, and others. In addition, the company owns mineral interests covering an area of approximately 55,000 surface acres of land in Sandoval County, New Mexico; and owns oil, gas, and minerals and mineral interests covering an area of approximately 147 surface acres of land in Brighton, Colorado.