Short Interest in AMREP Co. (NYSE:AXR) Declines By 7.7%

AMREP Co. (NYSE:AXR) was the recipient of a significant decrease in short interest during the month of November. As of November 30th, there was short interest totalling 19,300 shares, a decrease of 7.7% from the November 15th total of 20,900 shares. Based on an average daily trading volume, of 18,900 shares, the days-to-cover ratio is presently 1.0 days. Currently, 0.7% of the company’s stock are short sold.

AMREP Stock Up 2.8 %

NYSE:AXR traded up $0.92 during midday trading on Tuesday, reaching $33.27. The stock had a trading volume of 53,761 shares, compared to its average volume of 15,389. AMREP has a 12-month low of $15.88 and a 12-month high of $39.67. The stock has a market cap of $175.90 million, a P/E ratio of 14.07 and a beta of 0.92. The firm has a fifty day simple moving average of $32.79 and a two-hundred day simple moving average of $26.18.

AMREP (NYSE:AXR) last released its earnings results on Friday, December 13th. The business services provider reported $0.75 earnings per share (EPS) for the quarter. AMREP had a return on equity of 8.05% and a net margin of 15.64%.

Insider Activity at AMREP

In related news, major shareholder James H. Dahl bought 3,000 shares of the stock in a transaction dated Tuesday, September 24th. The stock was acquired at an average price of $30.75 per share, for a total transaction of $92,250.00. Following the acquisition, the insider now owns 430,774 shares in the company, valued at approximately $13,246,300.50. This represents a 0.70 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have acquired 6,800 shares of company stock valued at $205,560 over the last quarter. 37.60% of the stock is owned by insiders.

Hedge Funds Weigh In On AMREP

Institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its position in AMREP by 5.4% during the third quarter. Geode Capital Management LLC now owns 30,825 shares of the business services provider’s stock worth $915,000 after purchasing an additional 1,589 shares in the last quarter. State Street Corp purchased a new position in shares of AMREP in the third quarter valued at $216,000. BNP Paribas Financial Markets acquired a new position in shares of AMREP during the 3rd quarter worth $29,000. Cerity Partners LLC boosted its position in shares of AMREP by 137.2% in the 3rd quarter. Cerity Partners LLC now owns 269,287 shares of the business services provider’s stock worth $7,995,000 after buying an additional 155,755 shares in the last quarter. Finally, 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 buying an additional 2,144 shares during the last quarter. 59.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com downgraded 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.