AMREP (NYSE:AXR) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

AMREP Co. (NYSE:AXR) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $28.20 and traded as high as $34.00. AMREP shares last traded at $32.81, with a volume of 13,536 shares changing hands.

Wall Street Analysts Forecast Growth

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

AMREP Price Performance

The firm has a fifty day moving average price of $33.32 and a 200-day moving average price of $28.20. The company has a market capitalization of $173.47 million, a P/E ratio of 14.27 and a beta of 0.96.

AMREP (NYSE:AXR) last announced its earnings results on Friday, December 13th. The business services provider reported $0.75 earnings per share (EPS) for the quarter. AMREP had a return on equity of 10.31% and a net margin of 19.52%.

Insider Buying and Selling

In other AMREP news, Director Robert Robotti sold 13,000 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $31.56, for a total value of $410,280.00. Following the sale, the director now directly owns 296,594 shares in the company, valued at $9,360,506.64. The trade was a 4.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 37.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AXR. Cerity Partners LLC boosted its holdings in AMREP by 137.2% in the 3rd quarter. Cerity Partners LLC now owns 269,287 shares of the business services provider’s stock worth $7,995,000 after buying an additional 155,755 shares during the period. Ritholtz Wealth Management bought a new stake in AMREP during the 4th quarter valued at $384,000. State Street Corp purchased a new stake in shares of AMREP during the third quarter worth $216,000. Renaissance Technologies LLC boosted its holdings in shares of AMREP by 2.1% in the second 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 period. Finally, Empowered Funds LLC grew its position in shares of AMREP by 5.3% in the third quarter. Empowered Funds LLC now owns 42,796 shares of the business services provider’s stock valued at $1,271,000 after purchasing an additional 2,144 shares in the last quarter. Institutional investors own 59.85% of the company’s stock.

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.