StockNews.com upgraded shares of AMREP (NYSE:AXR – Free Report) from a hold rating to a buy rating in a research report released on Monday morning.
AMREP Trading Up 8.3 %
AXR stock opened at $28.25 on Monday. AMREP has a 1-year low of $15.38 and a 1-year high of $28.40. The business’s 50 day simple moving average is $22.78 and its 200 day simple moving average is $21.55. The firm has a market capitalization of $148.91 million, a PE ratio of 52.31 and a beta of 0.87.
AMREP (NYSE:AXR – Get Free Report) last released its quarterly earnings data on Friday, September 13th. The business services provider reported $0.76 EPS for the quarter. The firm had revenue of $19.09 million for the quarter. AMREP had a net margin of 13.02% and a return on equity of 5.85%.
Insider Buying and Selling at AMREP
Hedge Funds Weigh In On AMREP
Hedge funds have recently added to or reduced their stakes in the stock. Gate City Capital Management LLC bought a new stake in shares of AMREP during the 4th quarter valued at $9,505,000. Victory Capital Management Inc. acquired a new position in AMREP in the fourth quarter valued at about $119,000. Empowered Funds LLC lifted its position in AMREP by 8.0% during the first quarter. Empowered Funds LLC now owns 37,772 shares of the business services provider’s stock worth $878,000 after purchasing an additional 2,800 shares during the period. Finally, Renaissance Technologies LLC grew its stake in AMREP by 2.1% during the second quarter. Renaissance Technologies LLC now owns 123,514 shares of the business services provider’s stock worth $2,336,000 after buying an additional 2,514 shares in the last quarter. Institutional investors own 59.85% of the company’s stock.
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.
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