AMREP (NYSE:AXR) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

AMREP Co. (NYSE:AXR) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $28.66 and traded as high as $31.04. AMREP shares last traded at $31.01, with a volume of 9,231 shares.

Wall Street Analyst Weigh In

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

AMREP Stock Up 2.7 %

The firm has a market cap of $164.02 million, a price-to-earnings ratio of 13.48 and a beta of 0.96. The business’s fifty day moving average is $32.90 and its two-hundred day moving average is $28.66.

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

Insider Activity at AMREP

In related news, Director Robert Robotti sold 13,000 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $31.56, for a total value of $410,280.00. Following the completion of the transaction, the director now owns 296,594 shares of the company’s stock, valued at $9,360,506.64. The trade was a 4.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 37.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AXR. BNP Paribas Financial Markets bought a new stake in AMREP in the third quarter valued at approximately $29,000. JPMorgan Chase & Co. raised its position in shares of AMREP by 26,700.0% during the third quarter. JPMorgan Chase & Co. now owns 1,876 shares of the business services provider’s stock worth $56,000 after purchasing an additional 1,869 shares during the period. State Street Corp acquired a new position in shares of AMREP during the third quarter worth approximately $216,000. Ritholtz Wealth Management acquired a new position in shares of AMREP during the fourth quarter worth approximately $384,000. Finally, Geode Capital Management LLC raised its position in shares of AMREP by 5.4% during the third quarter. Geode Capital Management LLC now owns 30,825 shares of the business services provider’s stock worth $915,000 after purchasing an additional 1,589 shares during the period. Institutional investors own 59.85% 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.