AMREP (NYSE:AXR) Upgraded at StockNews.com

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

AMREP Trading Down 2.2 %

NYSE:AXR opened at $26.09 on Monday. The company has a 50-day moving average price of $22.61 and a 200-day moving average price of $21.50. AMREP has a 12 month low of $15.38 and a 12 month high of $28.01. The stock has a market cap of $137.52 million, a price-to-earnings ratio of 48.31 and a beta of 0.87.

AMREP (NYSE:AXR) last posted its earnings results on Friday, September 13th. The business services provider reported $0.76 EPS 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 during the quarter.

Insider Transactions at AMREP

In related news, major shareholder James H. Dahl bought 4,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was purchased 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 in the company, valued at approximately $9,902,968.10. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other AMREP news, major shareholder James H. Dahl purchased 4,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was bought at an average cost of $23.15 per share, with a total value of $92,600.00. Following the transaction, the insider now directly owns 427,774 shares in the company, valued at approximately $9,902,968.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder James H. Dahl purchased 10,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were acquired at an average cost of $25.60 per share, with a total value of $256,000.00. Following the completion of the transaction, the insider now owns 415,642 shares in the company, valued at $10,640,435.20. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 19,214 shares of company stock valued at $470,229. Company insiders own 37.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of AXR. Gate City Capital Management LLC bought a new stake in AMREP during the 4th quarter valued at about $9,505,000. Victory Capital Management Inc. bought a new stake in AMREP during the 4th quarter valued at about $119,000. Empowered Funds LLC increased its stake in AMREP by 8.0% during the 1st 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 in the last quarter. Finally, Renaissance Technologies LLC increased its stake in AMREP by 2.1% during the 2nd 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. 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.