AMREP (NYSE:AXR) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Shares of AMREP Corporation (NYSE:AXR) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $23.85 and traded as high as $26.14. AMREP shares last traded at $25.5450, with a volume of 3,466 shares trading hands.

Analyst Ratings Changes

AXR has been the subject of a number of recent research reports. Freedom Capital downgraded shares of AMREP from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Weiss Ratings raised shares of AMREP from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Finally, Wall Street Zen raised shares of AMREP from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, AMREP currently has an average rating of “Hold”.

AMREP Stock Performance

The business’s 50-day moving average price is $26.74 and its 200-day moving average price is $23.85. The stock has a market cap of $135.64 million, a P/E ratio of 10.64 and a beta of 1.11.

AMREP (NYSE:AXR) last released its earnings results on Thursday, March 12th. The business services provider reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. AMREP had a net margin of 24.40% and a return on equity of 9.58%. The company had revenue of $14.57 million for the quarter, compared to analysts’ expectations of $14.03 million.

Insiders Place Their Bets

In other news, Director Timothy S. Mcnaney bought 1,765 shares of the stock in a transaction that occurred on Tuesday, April 21st. The shares were bought at an average price of $28.17 per share, for a total transaction of $49,720.05. Following the purchase, the director owned 1,765 shares in the company, valued at $49,720.05. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder James H. Dahl bought 5,000 shares of the stock in a transaction that occurred on Wednesday, April 29th. The shares were purchased at an average price of $27.74 per share, for a total transaction of $138,700.00. Following the purchase, the insider owned 483,977 shares in the company, valued at $13,425,521.98. This represents a 1.04% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have purchased 28,500 shares of company stock worth $759,454. 37.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Mink Brook Asset Management LLC purchased a new position in shares of AMREP during the 3rd quarter valued at $1,196,000. Truffle Hound Capital LLC lifted its stake in AMREP by 31.0% in the 3rd quarter. Truffle Hound Capital LLC now owns 150,000 shares of the business services provider’s stock worth $3,588,000 after purchasing an additional 35,476 shares in the last quarter. Peapod Lane Capital LLC lifted its stake in AMREP by 1.1% in the 3rd quarter. Peapod Lane Capital LLC now owns 45,732 shares of the business services provider’s stock worth $1,094,000 after purchasing an additional 503 shares in the last quarter. Crossingbridge Advisors LLC lifted its stake in AMREP by 30.0% in the 4th quarter. Crossingbridge Advisors LLC now owns 65,000 shares of the business services provider’s stock worth $1,222,000 after purchasing an additional 15,000 shares in the last quarter. Finally, Empowered Funds LLC lifted its stake in AMREP by 7.4% in the 1st quarter. Empowered Funds LLC now owns 48,281 shares of the business services provider’s stock worth $968,000 after purchasing an additional 3,344 shares in the last quarter. Hedge funds and other institutional investors own 59.85% of the company’s stock.

About AMREP

AMREP Corporation (NYSE: AXR) is a Denver-area based company specializing in land development and natural resource management. Since its founding in 1961, AMREP has built a diversified platform that spans real estate operations and resource extraction, serving both individual and institutional clients in the western United States.

Through its real estate segment, AMREP Southwest Inc acquires, develops and markets residential lots in planned communities across New Mexico and Colorado. Notable projects include the Tanoan Country Club and adjacent residential neighborhoods near Albuquerque, where the company employs a direct-to-consumer marketing model to reach out-of-state and local buyers.