AMREP Co. (NYSE:AXR) Short Interest Update

AMREP Co. (NYSE:AXR) was the recipient of a significant growth in short interest in March. As of March 15th, there was short interest totalling 26,600 shares, a growth of 20.4% from the February 28th total of 22,100 shares. Approximately 1.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 22,200 shares, the short-interest ratio is presently 1.2 days.

Institutional Trading of AMREP

A number of institutional investors have recently added to or reduced their stakes in AXR. Millennium Management LLC increased its holdings in shares of AMREP by 94.7% during the 4th quarter. Millennium Management LLC now owns 19,261 shares of the business services provider’s stock valued at $605,000 after acquiring an additional 9,366 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of AMREP in the fourth quarter valued at about $137,000. Bridgeway Capital Management LLC grew its holdings in AMREP by 1.4% in the 4th quarter. Bridgeway Capital Management LLC now owns 155,035 shares of the business services provider’s stock valued at $4,868,000 after buying an additional 2,141 shares during the last quarter. 683 Capital Management LLC bought a new position in AMREP in the 4th quarter worth approximately $312,000. Finally, Jane Street Group LLC bought a new stake in shares of AMREP in the fourth quarter valued at approximately $230,000. 59.85% of the stock is currently owned by institutional investors and hedge funds.

AMREP Stock Performance

Shares of AXR stock traded down $0.63 on Thursday, reaching $18.66. 25,348 shares of the company’s stock traded hands, compared to its average volume of 19,326. AMREP has a 12-month low of $15.88 and a 12-month high of $39.68. The business’s 50 day moving average price is $25.49 and its two-hundred day moving average price is $29.45. The company has a market capitalization of $98.66 million, a P/E ratio of 8.11 and a beta of 0.99.

AMREP (NYSE:AXR) last posted its quarterly earnings results on Friday, March 7th. The business services provider reported $0.13 earnings per share for the quarter. AMREP had a net margin of 19.52% and a return on equity of 10.31%. The business had revenue of $7.52 million for the quarter.

Analysts Set New Price Targets

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

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.