AMREP Co. (NYSE:AXR) Short Interest Down 6.2% in October

AMREP Co. (NYSE:AXR) was the recipient of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 21,300 shares, a drop of 6.2% from the October 15th total of 22,700 shares. Based on an average daily volume of 15,000 shares, the short-interest ratio is presently 1.4 days. Approximately 0.8% of the shares of the stock are short sold.

Insider Buying and Selling at AMREP

In other news, major shareholder James H. Dahl acquired 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were bought 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 in the company, valued at approximately $9,902,968.10. This represents a 0.94 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought a total of 10,800 shares of company stock valued at $298,160 in the last three months. Company insiders own 37.60% of the company’s stock.

Institutional Investors Weigh In On AMREP

Institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC increased its position in AMREP by 2.1% during the second quarter. Renaissance Technologies LLC now owns 123,514 shares of the business services provider’s stock valued at $2,336,000 after acquiring an additional 2,514 shares during the last quarter. Empowered Funds LLC grew its holdings in AMREP by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 42,796 shares of the business services provider’s stock valued at $1,271,000 after purchasing an additional 2,144 shares during the last quarter. Cerity Partners LLC lifted its stake in AMREP by 137.2% in the third quarter. Cerity Partners LLC now owns 269,287 shares of the business services provider’s stock worth $7,995,000 after purchasing an additional 155,755 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of AMREP in the third quarter worth approximately $29,000. Finally, State Street Corp bought a new stake in shares of AMREP during the 3rd quarter worth approximately $216,000. Hedge funds and other institutional investors own 59.85% of the company’s stock.

AMREP Stock Down 2.3 %

Shares of NYSE AXR traded down $0.73 during midday trading on Monday, reaching $31.67. The company had a trading volume of 5,794 shares, compared to its average volume of 14,065. The firm’s fifty day moving average price is $29.08 and its 200-day moving average price is $23.87. AMREP has a one year low of $15.88 and a one year high of $36.21. The stock has a market cap of $167.53 million, a PE ratio of 18.41 and a beta of 0.89.

AMREP (NYSE:AXR) last posted its earnings results on Friday, September 13th. The business services provider reported $0.76 earnings per share for the quarter. AMREP had a net margin of 15.64% and a return on equity of 8.05%. The company had revenue of $19.09 million during the quarter.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of AMREP from a “hold” rating to a “buy” rating in a research note on Monday, September 16th.

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.