AMREP (NYSE:AXR) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

AMREP Co. (NYSE:AXR) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $28.66 and traded as high as $31.04. AMREP shares last traded at $31.01, with a volume of 9,231 shares changing hands.

Wall Street Analyst Weigh In

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

AMREP Stock Up 2.7 %

The stock has a market cap of $164.02 million, a PE ratio of 13.48 and a beta of 0.96. The stock has a 50-day moving average of $32.90 and a 200 day moving average of $28.66.

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

Insider Buying and Selling

In other AMREP news, Director Robert Robotti sold 13,000 shares of AMREP stock in a transaction dated 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 $9,360,506.64. The trade was a 4.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 37.60% of the stock is currently owned by insiders.

Institutional Trading of AMREP

Several institutional investors and hedge funds have recently made changes to their positions in AXR. Cerity Partners LLC increased its position in AMREP by 137.2% during the 3rd 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 during the period. Renaissance Technologies LLC lifted 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 buying an additional 2,514 shares in the last quarter. Empowered Funds LLC lifted its stake in 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 buying an additional 2,141 shares in the last quarter. Peapod Lane Capital LLC purchased a new position in shares of AMREP during the 4th quarter worth $1,411,000. Finally, Geode Capital Management LLC lifted 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 worth $915,000 after purchasing an additional 1,589 shares during the period. 59.85% of the stock is owned by hedge funds and other institutional investors.

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.