AMREP (NYSE:AXR) Stock Price Crosses Above Two Hundred Day Moving Average of $21.40

AMREP Co. (NYSE:AXR) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $21.40 and traded as high as $22.34. AMREP shares last traded at $22.00, with a volume of 4,949 shares.

Wall Street Analysts Forecast Growth

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

AMREP Trading Up 0.9 %

The stock’s fifty day moving average price is $22.22 and its 200 day moving average price is $21.40. The stock has a market cap of $116.38 million, a P/E ratio of 40.74 and a beta of 0.87.

AMREP (NYSE:AXR) last announced its quarterly earnings data on Tuesday, July 23rd. The business services provider reported $0.77 earnings per share for the quarter. The company had revenue of $19.54 million for the quarter. AMREP had a return on equity of 5.85% and a net margin of 13.02%.

Insider Transactions at AMREP

In other AMREP news, major shareholder James H. Dahl bought 4,000 shares of AMREP stock in a transaction that occurred on Tuesday, August 27th. The shares were bought at an average price of $23.15 per share, with a total value of $92,600.00. Following the acquisition, the insider now owns 427,774 shares in the company, valued at $9,902,968.10. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder James H. Dahl bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were bought at an average cost of $25.60 per share, with a total value of $256,000.00. Following the completion of the purchase, the insider now directly owns 415,642 shares in the company, valued at $10,640,435.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder James H. Dahl purchased 4,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was purchased at an average cost of $23.15 per share, for a total transaction of $92,600.00. Following the acquisition, the insider now owns 427,774 shares in the company, valued at $9,902,968.10. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 29,214 shares of company stock worth $659,029. 37.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AMREP

Several hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. purchased a new position in AMREP during the 4th quarter valued at about $119,000. Empowered Funds LLC grew its position in shares of AMREP by 8.0% in the 1st quarter. Empowered Funds LLC now owns 37,772 shares of the business services provider’s stock worth $878,000 after buying an additional 2,800 shares during the last quarter. Renaissance Technologies LLC increased its stake 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 valued at $2,336,000 after buying an additional 2,514 shares during the period. Finally, Gate City Capital Management LLC bought a new position in shares of AMREP during the fourth quarter valued at approximately $9,505,000. 59.85% of the stock is owned by institutional investors.

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.