AMREP (NYSE:AXR) Posts Earnings Results

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

AMREP Price Performance

Shares of NYSE AXR opened at $22.00 on Monday. The company has a 50-day simple moving average of $22.22 and a 200-day simple moving average of $21.41. The company has a market cap of $116.38 million, a PE ratio of 40.74 and a beta of 0.87. AMREP has a 12 month low of $15.38 and a 12 month high of $26.77.

Insiders Place Their Bets

In other AMREP news, major shareholder James H. Dahl purchased 4,000 shares of AMREP 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 purchase, the insider now directly owns 427,774 shares in the company, valued at approximately $9,902,968.10. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. In other AMREP news, major shareholder James H. Dahl bought 4,000 shares of AMREP stock in a transaction that occurred on Tuesday, August 27th. The shares were purchased at an average cost of $23.15 per share, for a total transaction of $92,600.00. Following the completion of the transaction, the insider now owns 427,774 shares of the company’s stock, valued at approximately $9,902,968.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder James H. Dahl bought 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was purchased at an average cost of $18.88 per share, for a total transaction of $188,800.00. Following the completion of the transaction, the insider now directly owns 398,428 shares in the company, valued at approximately $7,522,320.64. The disclosure for this purchase can be found here. In the last three months, insiders bought 29,214 shares of company stock valued at $659,029. Company insiders own 37.00% of the company’s stock.

Institutional Investors Weigh In On AMREP

Institutional investors and hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. acquired a new stake in AMREP during the 4th quarter valued at approximately $119,000. Empowered Funds LLC raised its holdings in shares of AMREP by 8.0% during the first quarter. Empowered Funds LLC now owns 37,772 shares of the business services provider’s stock worth $878,000 after purchasing an additional 2,800 shares during the period. Renaissance Technologies LLC lifted its position in shares of 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. Finally, Gate City Capital Management LLC bought a new position in shares of AMREP during the fourth quarter valued at approximately $9,505,000. Hedge funds and other institutional investors own 59.85% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com raised AMREP from a “sell” rating to a “hold” rating in a report on Wednesday, July 31st.

AMREP Company Profile

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.