AMREP Co. (NYSE:AXR) Shares Acquired by Cerity Partners LLC

Cerity Partners LLC boosted its position in AMREP Co. (NYSE:AXR) by 137.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 269,287 shares of the business services provider’s stock after acquiring an additional 155,755 shares during the quarter. Cerity Partners LLC owned 5.09% of AMREP worth $7,995,000 as of its most recent filing with the Securities and Exchange Commission.

Separately, Empowered Funds LLC grew its stake in AMREP by 5.3% during the third quarter. Empowered Funds LLC now owns 42,796 shares of the business services provider’s stock worth $1,271,000 after buying an additional 2,144 shares during the period. 59.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

AMREP Stock Performance

AXR stock opened at $35.05 on Thursday. The stock has a 50-day simple moving average of $31.04 and a 200-day simple moving average of $24.69. The firm has a market cap of $185.39 million, a P/E ratio of 19.91 and a beta of 0.89. AMREP Co. has a 1 year low of $15.88 and a 1 year high of $39.02.

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

Insiders Place Their Bets

In other AMREP news, major shareholder James H. Dahl acquired 2,000 shares of the stock in a transaction on Friday, September 27th. The stock was purchased at an average price of $29.70 per share, for a total transaction of $59,400.00. Following the purchase, the insider now directly owns 432,774 shares in the company, valued at $12,853,387.80. This trade represents a 0.46 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have bought 6,800 shares of company stock worth $205,560 in the last quarter. 37.60% of the stock is owned by corporate insiders.

AMREP Company Profile

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.