AMREP Co. (NYSE:AXR) Short Interest Update

AMREP Co. (NYSE:AXR) was the recipient of a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 19,300 shares, a decline of 7.7% from the November 15th total of 20,900 shares. Based on an average trading volume of 18,900 shares, the days-to-cover ratio is currently 1.0 days. Currently, 0.7% of the company’s shares are sold short.

Insider Transactions at AMREP

In related news, major shareholder James H. Dahl bought 1,800 shares of the stock in a transaction dated Friday, October 4th. The stock was bought at an average price of $29.95 per share, with a total value of $53,910.00. Following the purchase, the insider now owns 434,574 shares in the company, valued at approximately $13,015,491.30. The trade was a 0.42 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In the last ninety days, insiders acquired 6,800 shares of company stock worth $205,560. 37.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AMREP

A number of large investors have recently made changes to their positions in the business. Cerity Partners LLC raised its holdings in shares of AMREP by 137.2% during the third quarter. Cerity Partners LLC now owns 269,287 shares of the business services provider’s stock valued at $7,995,000 after acquiring an additional 155,755 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in AMREP by 2.1% in the second quarter. Renaissance Technologies LLC now owns 123,514 shares of the business services provider’s stock valued at $2,336,000 after acquiring an additional 2,514 shares in the last quarter. Empowered Funds LLC increased its position in AMREP by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 42,796 shares of the business services provider’s stock valued at $1,271,000 after purchasing an additional 2,144 shares during the period. Geode Capital Management LLC raised its holdings in AMREP by 5.4% in the 3rd quarter. Geode Capital Management LLC now owns 30,825 shares of the business services provider’s stock worth $915,000 after purchasing an additional 1,589 shares in the last quarter. Finally, State Street Corp purchased a new stake in shares of AMREP in the 3rd quarter worth about $216,000. 59.85% of the stock is currently owned by institutional investors.

AMREP Price Performance

AXR traded down $4.07 during trading on Monday, hitting $32.35. 49,445 shares of the stock traded hands, compared to its average volume of 15,231. The firm has a market capitalization of $171.03 million, a P/E ratio of 15.00 and a beta of 0.92. AMREP has a 12-month low of $15.88 and a 12-month high of $39.67. The firm has a 50-day moving average of $32.73 and a 200 day moving average of $26.09.

AMREP (NYSE:AXR) last posted its earnings results on Friday, December 13th. The business services provider reported $0.75 earnings per share for the quarter. AMREP had a net margin of 15.64% and a return on equity of 8.05%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded AMREP from a “buy” rating to a “hold” rating in a research report on Thursday.

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.