Ritholtz Wealth Management Makes New Investment in AMREP Co. (NYSE:AXR)

Ritholtz Wealth Management purchased a new position in AMREP Co. (NYSE:AXR) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 12,233 shares of the business services provider’s stock, valued at approximately $384,000.

Several other institutional investors and hedge funds have also made changes to their positions in AXR. Renaissance Technologies LLC lifted its holdings in shares of 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 purchasing an additional 2,514 shares during the period. Empowered Funds LLC raised its position in AMREP by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 42,796 shares of the business services provider’s stock worth $1,271,000 after buying an additional 2,144 shares during the last quarter. Cerity Partners LLC lifted its stake in AMREP by 137.2% during the 3rd quarter. Cerity Partners LLC now owns 269,287 shares of the business services provider’s stock valued at $7,995,000 after acquiring an additional 155,755 shares during the period. BNP Paribas Financial Markets purchased a new stake in shares of AMREP in the 3rd quarter valued at $29,000. Finally, State Street Corp acquired a new stake in shares of AMREP in the third quarter worth $216,000. 59.85% of the stock is currently owned by institutional investors and hedge funds.

AMREP Stock Down 4.9 %

Shares of AXR opened at $31.19 on Wednesday. The company has a market capitalization of $165.00 million, a price-to-earnings ratio of 13.56 and a beta of 0.96. The stock’s 50-day moving average price is $33.32 and its 200-day moving average price is $28.20. AMREP Co. has a 52 week low of $15.88 and a 52 week high of $39.67.

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

Wall Street Analysts Forecast Growth

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

Insider Activity

In other AMREP news, Director Robert Robotti sold 13,000 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 37.60% 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.