AMREP (NYSE:AXR) Rating Lowered to Hold at StockNews.com

StockNews.com lowered shares of AMREP (NYSE:AXR) from a buy rating to a hold rating in a research report released on Thursday.

AMREP Stock Up 2.0 %

Shares of NYSE AXR opened at $36.42 on Thursday. The firm has a market cap of $192.66 million, a PE ratio of 20.69 and a beta of 0.92. The company’s fifty day simple moving average is $32.73 and its 200 day simple moving average is $26.05. AMREP has a 12-month low of $15.88 and a 12-month high of $39.67.

AMREP (NYSE:AXR) last released its quarterly earnings data on Friday, December 13th. The business services provider reported $0.75 earnings per share (EPS) for the quarter. AMREP had a net margin of 15.64% and a return on equity of 8.05%.

Insider Buying and Selling at AMREP

In related news, major shareholder James H. Dahl acquired 1,800 shares of the firm’s stock in a transaction on Friday, October 4th. The stock was purchased at an average cost of $29.95 per share, with a total value of $53,910.00. Following the acquisition, the insider now owns 434,574 shares of the company’s stock, valued at approximately $13,015,491.30. This trade represents a 0.42 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders bought 6,800 shares of company stock valued at $205,560. Company insiders own 37.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets bought a new stake in AMREP during the third quarter worth $29,000. Geode Capital Management LLC raised its holdings in shares of AMREP by 5.4% in the 3rd quarter. Geode Capital Management LLC now owns 30,825 shares of the business services provider’s stock worth $915,000 after purchasing an additional 1,589 shares during the period. Empowered Funds LLC lifted its stake in 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 during the last quarter. Renaissance Technologies LLC raised its stake 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 valued at $2,336,000 after buying an additional 2,514 shares during the period. Finally, State Street Corp bought a new position in shares of AMREP during the 3rd quarter worth $216,000. Hedge funds and other 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.