Key Points
- AMREP major shareholder James Dahl bought 4,000 shares on May 29 at an average price of $26.16, spending about $104,640. After the purchase, he held 497,133 shares valued at roughly $13.0 million.
- The company recently reported better-than-expected quarterly results, posting EPS of $0.58 versus analyst estimates of $0.57 and revenue of $14.57 million versus expectations of $14.03 million.
- AMREP’s stock has a mixed outlook: the shares opened at $24.99, sit near their 50-day average of $26.93, and Wall Street’s consensus rating remains Hold despite a few recent rating changes.
AMREP Corporation (NYSE:AXR - Get Free Report) major shareholder James Dahl purchased 4,000 shares of the company's stock in a transaction that occurred on Friday, May 29th. The shares were acquired at an average cost of $26.16 per share, with a total value of $104,640.00. Following the completion of the acquisition, the insider directly owned 497,133 shares in the company, valued at approximately $13,004,999.28. This represents a 0.81% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.
AMREP Price Performance
AXR stock opened at $24.99 on Friday. The business has a fifty day moving average price of $26.93 and a 200 day moving average price of $23.69. AMREP Corporation has a fifty-two week low of $17.61 and a fifty-two week high of $29.01. The stock has a market capitalization of $132.71 million, a price-to-earnings ratio of 10.41 and a beta of 1.15.
AMREP (NYSE:AXR - Get Free Report) last released its quarterly earnings results on Thursday, March 12th. The business services provider reported $0.58 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.01. AMREP had a return on equity of 9.58% and a net margin of 24.40%.The firm had revenue of $14.57 million during the quarter, compared to analysts' expectations of $14.03 million.
Institutional Investors Weigh In On AMREP
Hedge funds and other institutional investors have recently made changes to their positions in the company. NBC Securities Inc. increased its stake in shares of AMREP by 65.0% in the 4th quarter. NBC Securities Inc. now owns 1,650 shares of the business services provider's stock valued at $31,000 after buying an additional 650 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of AMREP in the 1st quarter valued at $46,000. Barclays PLC increased its stake in shares of AMREP by 781.7% in the 4th quarter. Barclays PLC now owns 2,795 shares of the business services provider's stock valued at $53,000 after buying an additional 2,478 shares during the period. Jane Street Group LLC increased its stake in shares of AMREP by 42.1% in the 1st quarter. Jane Street Group LLC now owns 10,394 shares of the business services provider's stock valued at $208,000 after buying an additional 3,077 shares during the period. Finally, Citadel Advisors LLC acquired a new stake in shares of AMREP during the 3rd quarter worth approximately $453,000. 59.85% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on AXR. Freedom Capital cut shares of AMREP from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 7th. Wall Street Zen upgraded shares of AMREP from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Finally, Weiss Ratings upgraded shares of AMREP from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of "Hold".
View Our Latest Research Report on AXR
About AMREP
(
Get Free Report)
AMREP Corporation (NYSE: AXR) is a Denver-area based company specializing in land development and natural resource management. Since its founding in 1961, AMREP has built a diversified platform that spans real estate operations and resource extraction, serving both individual and institutional clients in the western United States.
Through its real estate segment, AMREP Southwest Inc acquires, develops and markets residential lots in planned communities across New Mexico and Colorado. Notable projects include the Tanoan Country Club and adjacent residential neighborhoods near Albuquerque, where the company employs a direct-to-consumer marketing model to reach out-of-state and local buyers.
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