AMREP (NYSE:AXR) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

AMREP Co. (NYSE:AXR)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $29.23 and traded as high as $30.93. AMREP shares last traded at $29.94, with a volume of 10,391 shares trading hands.

Analyst Ratings Changes

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

AMREP Price Performance

The business’s 50-day simple moving average is $31.93 and its two-hundred day simple moving average is $29.23. The stock has a market cap of $158.36 million, a price-to-earnings ratio of 13.02 and a beta of 0.95.

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

Insider Activity at AMREP

In related news, Director Robert Robotti sold 13,000 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $31.56, for a total value of $410,280.00. Following the completion of the sale, the director now directly owns 296,594 shares in the company, valued at $9,360,506.64. This represents a 4.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 37.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On AMREP

Institutional investors have recently made changes to their positions in the stock. Cerity Partners LLC lifted 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 acquiring an additional 155,755 shares during the period. Truffle Hound Capital LLC acquired a new position in shares of AMREP in the 4th quarter worth approximately $2,041,000. Empowered Funds LLC boosted its stake in shares of AMREP by 5.0% in the 4th quarter. Empowered Funds LLC now owns 44,937 shares of the business services provider’s stock valued at $1,411,000 after purchasing an additional 2,141 shares during the last quarter. Peapod Lane Capital LLC acquired a new stake in shares of AMREP during the fourth quarter worth $1,411,000. Finally, Geode Capital Management LLC raised its stake in AMREP by 5.4% during the third quarter. Geode Capital Management LLC now owns 30,825 shares of the business services provider’s stock worth $915,000 after buying an additional 1,589 shares during the last quarter. Institutional investors own 59.85% of the company’s stock.

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.