AMREP Co. (NYSE:AXR) Major Shareholder Purchases $53,910.00 in Stock

AMREP Co. (NYSE:AXR) major shareholder James H. Dahl acquired 1,800 shares of the business’s stock in a transaction on Friday, October 4th. The shares were bought at an average price of $29.95 per share, for a total transaction of $53,910.00. Following the acquisition, the insider now owns 434,574 shares in the company, valued at approximately $13,015,491.30. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

AMREP Stock Up 3.7 %

Shares of NYSE:AXR traded up $1.05 during trading on Friday, reaching $29.55. 24,499 shares of the company traded hands, compared to its average volume of 13,683. AMREP Co. has a 1-year low of $15.38 and a 1-year high of $31.26. The firm has a fifty day simple moving average of $24.54 and a 200 day simple moving average of $22.03. The firm has a market cap of $155.76 million, a P/E ratio of 54.72 and a beta of 0.89.

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

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Gate City Capital Management LLC bought a new stake in AMREP in the fourth quarter valued at $9,505,000. Empowered Funds LLC boosted its position in AMREP by 8.0% in the first quarter. Empowered Funds LLC now owns 37,772 shares of the business services provider’s stock valued at $878,000 after buying an additional 2,800 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in AMREP by 2.1% during the second quarter. Renaissance Technologies LLC now owns 123,514 shares of the business services provider’s stock worth $2,336,000 after buying an additional 2,514 shares during the last quarter. 59.85% of the stock is owned by institutional investors.

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.