AMREP Co. (NYSE:AXR) Short Interest Up 16.4% in October

AMREP Co. (NYSE:AXR) was the recipient of a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 22,700 shares, an increase of 16.4% from the September 30th total of 19,500 shares. Based on an average daily trading volume, of 18,000 shares, the days-to-cover ratio is currently 1.3 days. Currently, 0.9% of the company’s stock are sold short.

Insider Activity at AMREP

In other news, major shareholder James H. Dahl bought 1,800 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was bought at an average price of $29.95 per share, for a total transaction of $53,910.00. Following the transaction, the insider now owns 434,574 shares in the company, valued at $13,015,491.30. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In other AMREP news, major shareholder James H. Dahl bought 1,800 shares of the company’s stock in a transaction on Friday, October 4th. The shares were bought at an average cost of $29.95 per share, with a total value of $53,910.00. Following the completion of the acquisition, the insider now owns 434,574 shares of the company’s stock, valued at approximately $13,015,491.30. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder James H. Dahl purchased 5,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was acquired at an average cost of $23.48 per share, with a total value of $117,400.00. Following the completion of the acquisition, the insider now directly owns 420,642 shares in the company, valued at approximately $9,876,674.16. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 25,800 shares of company stock valued at $671,560 over the last three months. 37.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in AMREP stock. Renaissance Technologies LLC increased its stake in AMREP Co. (NYSE:AXR) by 2.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 123,514 shares of the business services provider’s stock after purchasing an additional 2,514 shares during the quarter. Renaissance Technologies LLC owned about 2.34% of AMREP worth $2,336,000 at the end of the most recent quarter. 59.85% of the stock is owned by hedge funds and other institutional investors.

AMREP Stock Performance

Shares of AXR opened at $30.00 on Tuesday. AMREP has a 1 year low of $15.38 and a 1 year high of $31.26. The firm has a fifty day moving average of $26.27 and a 200-day moving average of $22.75. The company has a market cap of $158.13 million, a price-to-earnings ratio of 55.56 and a beta of 0.89.

AMREP (NYSE:AXR) last announced its quarterly earnings results on Friday, September 13th. The business services provider reported $0.76 EPS for the quarter. The company had revenue of $19.09 million for the quarter. AMREP had a net margin of 15.64% and a return on equity of 8.05%.

Analyst Ratings Changes

Separately, StockNews.com raised AMREP from a “hold” rating to a “buy” rating in a report on Monday, September 16th.

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.