JPMorgan Chase & Co. Buys 1,869 Shares of AMREP Co. (NYSE:AXR)

JPMorgan Chase & Co. lifted its position in AMREP Co. (NYSE:AXR) by 26,700.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,876 shares of the business services provider’s stock after purchasing an additional 1,869 shares during the quarter. JPMorgan Chase & Co.’s holdings in AMREP were worth $56,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AXR. BNP Paribas Financial Markets purchased a new position in shares of AMREP during the third quarter worth $29,000. State Street Corp acquired a new stake in AMREP during the 3rd quarter worth about $216,000. Geode Capital Management LLC raised its stake in shares of AMREP by 5.4% during the 3rd quarter. Geode Capital Management LLC now owns 30,825 shares of the business services provider’s stock valued at $915,000 after buying an additional 1,589 shares during the last quarter. Empowered Funds LLC lifted 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 valued at $1,271,000 after buying an additional 2,144 shares during the period. Finally, Cerity Partners LLC boosted its stake in shares of AMREP by 137.2% in the third quarter. Cerity Partners LLC now owns 269,287 shares of the business services provider’s stock worth $7,995,000 after buying an additional 155,755 shares during the last quarter. 59.85% of the stock is currently owned by hedge funds and other institutional investors.

AMREP Stock Down 0.7 %

Shares of NYSE AXR opened at $30.14 on Tuesday. AMREP Co. has a 52-week low of $15.88 and a 52-week high of $39.67. The firm has a market cap of $159.44 million, a price-to-earnings ratio of 13.10 and a beta of 0.95. The company’s 50-day simple moving average is $32.50 and its 200-day simple moving average is $28.86.

AMREP (NYSE:AXR) last released its quarterly earnings data on Friday, December 13th. The business services provider reported $0.75 EPS for the quarter. AMREP had a net margin of 19.52% and a return on equity of 10.31%.

Insider Activity

In other news, Director Robert Robotti sold 13,000 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $31.56, for a total transaction of $410,280.00. Following the sale, the director now owns 296,594 shares of the company’s stock, valued at approximately $9,360,506.64. This represents a 4.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 37.60% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of AMREP from a “buy” rating to a “hold” rating in a report on Thursday, December 12th.

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.