AMREP Co. (NYSE:AXR) Major Shareholder Acquires $92,250.00 in Stock

AMREP Co. (NYSE:AXR) major shareholder James H. Dahl purchased 3,000 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was bought at an average price of $30.75 per share, with a total value of $92,250.00. Following the completion of the transaction, the insider now owns 430,774 shares of the company’s stock, valued at $13,246,300.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

AMREP Stock Down 1.2 %

Shares of AXR stock traded down $0.37 on Tuesday, hitting $30.30. The stock had a trading volume of 23,752 shares, compared to its average volume of 13,696. The business has a 50 day moving average price of $23.16 and a 200 day moving average price of $21.66. AMREP Co. has a one year low of $15.38 and a one year high of $31.08. The company has a market cap of $159.71 million, a PE ratio of 56.89 and a beta of 0.87.

AMREP (NYSE:AXR) last issued its quarterly earnings results on Friday, September 13th. The business services provider reported $0.76 earnings per share for the quarter. AMREP had a return on equity of 5.85% and a net margin of 13.02%. The business had revenue of $19.09 million for the quarter.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Victory Capital Management Inc. acquired a new position in AMREP in the 4th quarter valued at $119,000. Gate City Capital Management LLC acquired a new position in AMREP in the 4th quarter valued at $9,505,000. Empowered Funds LLC raised its stake in AMREP by 8.0% in the 1st quarter. Empowered Funds LLC now owns 37,772 shares of the business services provider’s stock valued at $878,000 after purchasing an additional 2,800 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in AMREP by 2.1% in the 2nd quarter. Renaissance Technologies LLC now owns 123,514 shares of the business services provider’s stock valued at $2,336,000 after purchasing an additional 2,514 shares during the last quarter. 59.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.