AMREP Co. (NYSE:AXR) Major Shareholder Acquires $59,400.00 in Stock

AMREP Co. (NYSE:AXR) major shareholder James H. Dahl bought 2,000 shares of the company’s stock in a transaction on Friday, September 27th. The shares were bought at an average price of $29.70 per share, with a total value of $59,400.00. Following the completion of the transaction, the insider now owns 432,774 shares of the company’s stock, valued at $12,853,387.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

AMREP Trading Up 0.6 %

AXR opened at $29.58 on Friday. The stock has a market capitalization of $155.92 million, a P/E ratio of 54.78 and a beta of 0.87. The stock has a 50-day moving average price of $23.82 and a 200-day moving average price of $21.87. AMREP Co. has a 12-month low of $15.38 and a 12-month high of $31.26.

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

Institutional Trading of AMREP

Institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC lifted 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 acquiring an additional 2,800 shares during the last quarter. Renaissance Technologies LLC grew its position in AMREP by 2.1% during the 2nd quarter. Renaissance Technologies LLC now owns 123,514 shares of the business services provider’s stock worth $2,336,000 after acquiring an additional 2,514 shares during the last quarter. Finally, Gate City Capital Management LLC purchased a new position in AMREP in the 4th quarter worth approximately $9,505,000. 59.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of AMREP from a “hold” rating to a “buy” rating in a report 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.