James Dahl Acquires 4,000 Shares of AMREP (NYSE:AXR) Stock

AMREP Corporation (NYSE:AXR) major shareholder James Dahl bought 4,000 shares of the stock in a transaction dated Friday, May 29th. The shares were acquired at an average price of $26.16 per share, for a total transaction of $104,640.00. Following the completion of the transaction, the insider owned 497,133 shares of the company’s stock, valued at approximately $13,004,999.28. The trade was a 0.81% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

AMREP Trading Down 7.5%

Shares of AXR opened at $24.99 on Friday. The firm has a market cap of $132.71 million, a PE ratio of 10.41 and a beta of 1.15. The company’s 50 day simple moving average is $26.93 and its 200-day simple moving average is $23.69. AMREP Corporation has a 12-month low of $17.61 and a 12-month high of $29.01.

AMREP (NYSE:AXR) last announced its earnings results on Thursday, March 12th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, topping 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 business had revenue of $14.57 million for the quarter, compared to analyst estimates of $14.03 million.

Analysts Set New Price Targets

A number of research firms recently weighed in on AXR. Weiss Ratings upgraded shares of AMREP from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday. Freedom Capital lowered shares of AMREP from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, Wall Street Zen upgraded 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, the company presently has a consensus rating of “Hold”.

Institutional Investors Weigh In On AMREP

Institutional investors have recently made changes to their positions in the stock. Mink Brook Asset Management LLC acquired a new position in shares of AMREP during the 3rd quarter worth $1,196,000. Truffle Hound Capital LLC raised its stake in shares of AMREP by 31.0% during the 3rd quarter. Truffle Hound Capital LLC now owns 150,000 shares of the business services provider’s stock worth $3,588,000 after buying an additional 35,476 shares during the last quarter. Peapod Lane Capital LLC raised its stake in shares of AMREP by 1.1% during the 3rd quarter. Peapod Lane Capital LLC now owns 45,732 shares of the business services provider’s stock worth $1,094,000 after buying an additional 503 shares during the last quarter. Crossingbridge Advisors LLC raised its stake in shares of AMREP by 30.0% during the 4th quarter. Crossingbridge Advisors LLC now owns 65,000 shares of the business services provider’s stock worth $1,222,000 after buying an additional 15,000 shares during the last quarter. Finally, Empowered Funds LLC raised its stake in shares of AMREP by 7.4% during the 1st quarter. Empowered Funds LLC now owns 48,281 shares of the business services provider’s stock worth $968,000 after buying an additional 3,344 shares during the last quarter. 59.85% of the stock is currently owned by hedge funds and other institutional investors.

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.