AMREP (NYSE:AXR) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of AMREP (NYSE:AXR) from a hold rating to a buy rating in a research note issued to investors on Monday morning.

AMREP Price Performance

Shares of AMREP stock opened at $28.25 on Monday. The business has a 50-day moving average of $22.78 and a two-hundred day moving average of $21.55. AMREP has a 1 year low of $15.38 and a 1 year high of $28.40. The company has a market capitalization of $148.91 million, a P/E ratio of 52.31 and a beta of 0.87.

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

Insider Buying and Selling at AMREP

In other news, major shareholder James H. Dahl acquired 5,000 shares of AMREP stock in a transaction dated Thursday, August 8th. The stock was bought at an average cost of $23.48 per share, with a total value of $117,400.00. Following the completion of the transaction, the insider now directly owns 420,642 shares of the company’s stock, valued at $9,876,674.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other AMREP news, major shareholder James H. Dahl bought 5,000 shares of AMREP stock in a transaction that occurred on Thursday, August 8th. The stock was acquired at an average price of $23.48 per share, for a total transaction of $117,400.00. Following the completion of the acquisition, the insider now owns 420,642 shares of the company’s stock, valued at approximately $9,876,674.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder James H. Dahl bought 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was acquired at an average cost of $23.15 per share, with a total value of $92,600.00. Following the transaction, the insider now owns 427,774 shares of the company’s stock, valued at approximately $9,902,968.10. The disclosure for this purchase can be found here. Insiders have bought 19,214 shares of company stock valued at $470,229 in the last 90 days. 37.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AXR. Victory Capital Management Inc. bought a new stake in shares of AMREP during the 4th quarter worth approximately $119,000. Gate City Capital Management LLC acquired a new position in AMREP during the fourth quarter worth $9,505,000. Empowered Funds LLC raised its position in AMREP by 8.0% during the first quarter. Empowered Funds LLC now owns 37,772 shares of the business services provider’s stock worth $878,000 after acquiring an additional 2,800 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in 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 acquiring an additional 2,514 shares during the last quarter. 59.85% of the stock is owned by institutional investors and hedge funds.

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.