AMREP (NYSE:AXR) Rating Lowered to “Hold” at StockNews.com

AMREP (NYSE:AXR) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

AMREP Stock Up 1.3 %

Shares of AXR opened at $36.18 on Thursday. The firm has a market cap of $191.39 million, a price-to-earnings ratio of 20.69 and a beta of 0.92. The company’s fifty day moving average is $32.60 and its 200-day moving average is $25.90. AMREP has a 12 month low of $15.88 and a 12 month high of $39.67.

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

Insider Activity at AMREP

In other news, major shareholder James H. Dahl acquired 3,000 shares of the stock in a transaction dated Tuesday, September 24th. The shares were acquired at an average cost of $30.75 per share, for a total transaction of $92,250.00. Following the completion of the transaction, the insider now owns 430,774 shares in the company, valued at approximately $13,246,300.50. This trade represents a 0.70 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders purchased a total of 6,800 shares of company stock worth $205,560 in the last ninety days. 37.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AXR. BNP Paribas Financial Markets bought a new stake in shares of AMREP in the 3rd quarter worth about $29,000. Geode Capital Management LLC raised its stake in shares of AMREP by 5.4% in the third quarter. Geode Capital Management LLC now owns 30,825 shares of the business services provider’s stock valued at $915,000 after acquiring an additional 1,589 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of AMREP by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 42,796 shares of the business services provider’s stock worth $1,271,000 after acquiring an additional 2,144 shares in the last quarter. Renaissance Technologies LLC grew its position in AMREP by 2.1% during the 2nd quarter. Renaissance Technologies LLC now owns 123,514 shares of the business services provider’s stock worth $2,336,000 after acquiring an additional 2,514 shares during the last quarter. Finally, State Street Corp acquired a new stake in AMREP during the 3rd quarter valued at $216,000. Institutional investors own 59.85% of the company’s stock.

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.