AMREP Co. (NYSE:AXR) Sees Large Decrease in Short Interest

AMREP Co. (NYSE:AXR) was the recipient of a large decrease in short interest in October. As of October 31st, there was short interest totalling 21,300 shares, a decrease of 6.2% from the October 15th total of 22,700 shares. Based on an average daily volume of 15,000 shares, the short-interest ratio is currently 1.4 days. Approximately 0.8% of the company’s stock are sold short.

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.

Insiders Place Their Bets

In other AMREP news, major shareholder James H. Dahl purchased 3,000 shares of the stock in a transaction on Tuesday, September 24th. The shares were purchased at an average cost of $30.75 per share, for a total transaction of $92,250.00. Following the purchase, the insider now owns 430,774 shares of the company’s stock, valued at approximately $13,246,300.50. This represents a 0.70 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders bought 10,800 shares of company stock worth $298,160. Corporate insiders own 37.60% of the company’s stock.

Institutional Investors Weigh In On AMREP

A number of institutional investors have recently modified their holdings of AXR. Geode Capital Management LLC increased its holdings in shares of AMREP by 5.4% during the third 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. State Street Corp bought a new position in AMREP in the 3rd quarter valued at about $216,000. BNP Paribas Financial Markets bought a new stake in shares of AMREP during the 3rd quarter worth approximately $29,000. Cerity Partners LLC lifted its holdings in shares of AMREP by 137.2% during the 3rd quarter. Cerity Partners LLC now owns 269,287 shares of the business services provider’s stock worth $7,995,000 after acquiring an additional 155,755 shares during the period. Finally, Empowered Funds LLC increased 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 acquiring an additional 2,144 shares during the last quarter. Institutional investors own 59.85% of the company’s stock.

AMREP Stock Performance

Shares of AXR stock opened at $32.17 on Tuesday. The company has a market capitalization of $170.18 million, a price-to-earnings ratio of 17.99 and a beta of 0.89. AMREP has a 52 week low of $15.88 and a 52 week high of $36.21. The company has a 50-day simple moving average of $29.08 and a 200 day simple moving average of $23.87.

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

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.