AMREP Co. (NYSE:AXR) Sees Large Increase in Short Interest

AMREP Co. (NYSE:AXR) saw a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 26,600 shares, a growth of 20.4% from the February 28th total of 22,100 shares. Currently, 1.1% of the company’s shares are sold short. Based on an average daily volume of 22,200 shares, the short-interest ratio is presently 1.2 days.

AMREP Stock Performance

Shares of AXR traded down $0.63 during trading hours on Thursday, hitting $18.66. The stock had a trading volume of 25,348 shares, compared to its average volume of 19,326. The firm has a market cap of $98.66 million, a P/E ratio of 8.11 and a beta of 0.99. The company’s fifty day simple moving average is $25.49 and its 200 day simple moving average is $29.45. AMREP has a 12-month low of $15.88 and a 12-month high of $39.68.

AMREP (NYSE:AXR) last announced its earnings results on Friday, March 7th. The business services provider reported $0.13 earnings per share (EPS) for the quarter. AMREP had a return on equity of 10.31% and a net margin of 19.52%. The business had revenue of $7.52 million for the quarter.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut AMREP from a “buy” rating to a “hold” rating in a report on Thursday, December 12th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets bought a new position in shares of AMREP during the third quarter worth about $29,000. JPMorgan Chase & Co. lifted its stake in AMREP by 26,700.0% during the third quarter. JPMorgan Chase & Co. now owns 1,876 shares of the business services provider’s stock worth $56,000 after purchasing an additional 1,869 shares during the last quarter. Barclays PLC acquired a new position in AMREP in the fourth quarter worth $76,000. Lazard Asset Management LLC bought a new stake in AMREP during the fourth quarter valued at $137,000. Finally, State Street Corp bought a new stake in AMREP during the third quarter valued at $216,000. 59.85% of the stock is owned by institutional investors and hedge funds.

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.