AMREP (NYSE:AXR) Shares Pass Above 200-Day Moving Average of $21.36

AMREP Co. (NYSE:AXR) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $21.36 and traded as high as $22.62. AMREP shares last traded at $22.34, with a volume of 1,040 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of AMREP from a “sell” rating to a “hold” rating in a report on Wednesday, July 31st.

AMREP Stock Performance

The firm has a fifty day simple moving average of $21.87 and a 200 day simple moving average of $21.37. The company has a market capitalization of $114.54 million, a PE ratio of 40.24 and a beta of 0.91.

AMREP (NYSE:AXR) last issued its earnings results on Tuesday, July 23rd. The business services provider reported $0.77 earnings per share (EPS) for the quarter. The company had revenue of $19.54 million for the quarter. AMREP had a net margin of 13.02% and a return on equity of 5.85%.

Insiders Place Their Bets

In other news, major shareholder James H. Dahl bought 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were purchased at an average cost of $23.15 per share, with a total value of $92,600.00. Following the transaction, the insider now directly owns 427,774 shares in the company, valued at $9,902,968.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other AMREP news, major shareholder James H. Dahl acquired 10,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were acquired at an average cost of $25.60 per share, with a total value of $256,000.00. Following the acquisition, the insider now directly owns 415,642 shares of the company’s stock, valued at $10,640,435.20. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder James H. Dahl bought 4,000 shares of AMREP stock in a transaction that occurred on Tuesday, August 27th. The shares were acquired at an average cost of $23.15 per share, with a total value of $92,600.00. Following the acquisition, the insider now owns 427,774 shares of the company’s stock, valued at $9,902,968.10. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 29,214 shares of company stock valued at $659,029. Insiders own 37.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AXR. Renaissance Technologies LLC increased its holdings in AMREP by 2.1% in the second quarter. Renaissance Technologies LLC now owns 123,514 shares of the business services provider’s stock valued at $2,336,000 after buying an additional 2,514 shares in the last quarter. Empowered Funds LLC increased its stake in shares of AMREP by 8.0% in the 1st quarter. Empowered Funds LLC now owns 37,772 shares of the business services provider’s stock valued at $878,000 after purchasing an additional 2,800 shares in the last quarter. Victory Capital Management Inc. acquired a new position in AMREP in the 4th quarter worth about $119,000. Finally, Gate City Capital Management LLC purchased a new position in AMREP during the fourth quarter worth approximately $9,505,000. 59.85% of the stock is currently owned by hedge funds and other institutional investors.

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.