AMREP Co. (NYSE:AXR) Short Interest Up 16.4% in October

AMREP Co. (NYSE:AXR) was the target of a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 22,700 shares, an increase of 16.4% from the September 30th total of 19,500 shares. Based on an average daily trading volume, of 18,000 shares, the short-interest ratio is currently 1.3 days. Approximately 0.9% of the company’s shares are sold short.

Insider Transactions at AMREP

In other news, major shareholder James H. Dahl bought 10,000 shares of AMREP stock in a transaction that occurred on Thursday, August 1st. The shares were purchased at an average price of $25.60 per share, for a total transaction of $256,000.00. Following the completion of the acquisition, the insider now owns 415,642 shares of the company’s stock, valued at $10,640,435.20. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other AMREP news, major shareholder James H. Dahl purchased 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were purchased at an average price of $25.60 per share, for a total transaction of $256,000.00. Following the completion of the acquisition, the insider now owns 415,642 shares of the company’s stock, valued at approximately $10,640,435.20. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder James H. Dahl acquired 1,800 shares of the firm’s stock in a transaction on Friday, October 4th. The shares were acquired at an average price of $29.95 per share, with a total value of $53,910.00. Following the completion of the purchase, the insider now owns 434,574 shares of the company’s stock, valued at $13,015,491.30. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 25,800 shares of company stock worth $671,560 in the last ninety days. Insiders own 37.00% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in AMREP stock. Renaissance Technologies LLC raised its holdings in AMREP Co. (NYSE:AXR) by 2.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 123,514 shares of the business services provider’s stock after purchasing an additional 2,514 shares during the period. Renaissance Technologies LLC owned about 2.34% of AMREP worth $2,336,000 as of its most recent SEC filing. Institutional investors own 59.85% of the company’s stock.

AMREP Stock Up 1.4 %

NYSE AXR opened at $30.00 on Tuesday. The stock has a market cap of $158.13 million, a PE ratio of 55.56 and a beta of 0.89. The business has a 50 day moving average price of $26.27 and a two-hundred day moving average price of $22.75. AMREP has a fifty-two week low of $15.38 and a fifty-two week high of $31.26.

AMREP (NYSE:AXR) last released its quarterly earnings results on Friday, September 13th. The business services provider reported $0.76 earnings per share for the quarter. AMREP had a net margin of 15.64% and a return on equity of 8.05%. The business had revenue of $19.09 million during the quarter.

Analyst Ratings Changes

Separately, StockNews.com raised AMREP from a “hold” rating to a “buy” rating in a research report on Monday, September 16th.

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.