AMREP (NYSE:AXR) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

AMREP Co. (NYSE:AXR)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $23.60 and traded as high as $36.21. AMREP shares last traded at $33.97, with a volume of 21,871 shares changing hands.

Analyst Upgrades and Downgrades

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

AMREP Price Performance

The stock’s 50 day moving average is $28.41 and its 200-day moving average is $23.60. The company has a market capitalization of $179.70 million, a P/E ratio of 19.30 and a beta of 0.89.

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

Insiders Place Their Bets

In other AMREP news, major shareholder James H. Dahl purchased 3,000 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was bought at an average cost of $30.75 per share, with a total value of $92,250.00. Following the transaction, the insider now directly owns 430,774 shares in the company, valued at approximately $13,246,300.50. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, major shareholder James H. Dahl purchased 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were bought at an average price of $30.75 per share, for a total transaction of $92,250.00. Following the purchase, the insider now directly owns 430,774 shares of the company’s stock, valued at approximately $13,246,300.50. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder James H. Dahl acquired 1,800 shares of the stock in a transaction on Friday, October 4th. The shares were bought at an average price of $29.95 per share, with a total value of $53,910.00. Following the purchase, the insider now directly owns 434,574 shares of the company’s stock, valued at $13,015,491.30. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 10,800 shares of company stock worth $298,160. 37.60% of the stock is owned by corporate insiders.

Institutional Trading of AMREP

Several institutional investors have recently bought and sold shares of AXR. BNP Paribas Financial Markets bought a new position in shares of AMREP in the third quarter worth approximately $29,000. Empowered Funds LLC raised its holdings in AMREP by 8.0% in the 1st quarter. Empowered Funds LLC now owns 37,772 shares of the business services provider’s stock worth $878,000 after acquiring an additional 2,800 shares during the last quarter. Renaissance Technologies LLC raised its holdings in AMREP by 2.1% in 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, Cerity Partners LLC lifted its position in AMREP by 137.2% in the 3rd quarter. Cerity Partners LLC now owns 269,287 shares of the business services provider’s stock valued at $7,995,000 after acquiring an additional 155,755 shares in the last quarter. 59.85% of the stock is owned by hedge funds and other institutional investors.

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.