Geode Capital Management LLC Buys 1,589 Shares of AMREP Co. (NYSE:AXR)

Geode Capital Management LLC grew its stake in AMREP Co. (NYSE:AXR) by 5.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,825 shares of the business services provider’s stock after buying an additional 1,589 shares during the quarter. Geode Capital Management LLC owned approximately 0.58% of AMREP worth $915,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cerity Partners LLC grew its position in shares of AMREP by 137.2% during the third quarter. Cerity Partners LLC now owns 269,287 shares of the business services provider’s stock worth $7,995,000 after purchasing an additional 155,755 shares in the last quarter. State Street Corp bought a new stake in shares of AMREP during the third quarter valued at approximately $216,000. Renaissance Technologies LLC lifted its holdings in shares of AMREP by 2.1% in 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 in the last quarter. Empowered Funds LLC boosted its position in shares of AMREP by 5.3% during the third 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 during the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in AMREP during the third quarter valued at $29,000. Institutional investors own 59.85% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at AMREP

In related news, Director Robert Robotti sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $31.56, for a total transaction of $410,280.00. Following the completion of the sale, the director now directly owns 296,594 shares of the company’s stock, valued at approximately $9,360,506.64. This trade represents a 4.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 37.60% of the company’s stock.

AMREP Trading Down 5.2 %

Shares of AMREP stock opened at $28.30 on Friday. The firm has a market cap of $149.62 million, a PE ratio of 16.08 and a beta of 0.96. AMREP Co. has a 12 month low of $15.88 and a 12 month high of $39.67. The stock has a 50 day moving average of $33.36 and a 200 day moving average of $27.53.

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

AMREP 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.