AMREP (NYSE:AXR) Releases Earnings Results

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

AMREP Price Performance

Shares of NYSE AXR opened at $22.00 on Monday. AMREP has a one year low of $15.38 and a one year high of $26.77. The business’s 50-day moving average price is $22.22 and its two-hundred day moving average price is $21.41. The company has a market capitalization of $116.38 million, a P/E ratio of 40.74 and a beta of 0.87.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of AMREP from a “sell” rating to a “hold” rating in a research note on Wednesday, July 31st.

Insider Transactions at AMREP

In other news, major shareholder James H. Dahl acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were purchased at an average price of $25.60 per share, for a total transaction of $256,000.00. Following the completion of the acquisition, the insider now owns 415,642 shares of the company’s stock, valued at approximately $10,640,435.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder James H. Dahl bought 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was purchased at an average cost of $23.48 per share, for a total transaction of $117,400.00. Following the purchase, the insider now directly owns 420,642 shares in the company, valued at $9,876,674.16. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder James H. Dahl purchased 10,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was bought at an average price of $25.60 per share, for a total transaction of $256,000.00. Following the completion of the transaction, the insider now directly owns 415,642 shares in the company, valued at $10,640,435.20. The disclosure for this purchase can be found here. Insiders bought 29,214 shares of company stock valued at $659,029 in the last three months. Corporate insiders own 37.00% of the company’s stock.

Institutional Investors Weigh In On AMREP

Hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. bought a new position in AMREP during the fourth quarter valued at about $119,000. Empowered Funds LLC increased its position in shares of AMREP by 8.0% during the first 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 period. Renaissance Technologies LLC raised its stake 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 valued at $2,336,000 after purchasing an additional 2,514 shares in the last quarter. Finally, Gate City Capital Management LLC bought a new position in AMREP in the fourth quarter worth $9,505,000. Institutional investors own 59.85% of the company’s stock.

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.