AMREP Co. (NYSE:AXR) Short Interest Down 7.7% in November

AMREP Co. (NYSE:AXR) was the recipient of a large decrease in short interest in November. As of November 30th, there was short interest totalling 19,300 shares, a decrease of 7.7% from the November 15th total of 20,900 shares. Based on an average trading volume of 18,900 shares, the days-to-cover ratio is presently 1.0 days. Approximately 0.7% of the company’s stock are short sold.

AMREP Stock Up 2.8 %

AXR opened at $33.27 on Wednesday. The company’s 50-day moving average price is $32.86 and its two-hundred day moving average price is $26.26. AMREP has a twelve month low of $15.88 and a twelve month high of $39.67. The stock has a market cap of $175.90 million, a price-to-earnings ratio of 14.47 and a beta of 0.92.

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut AMREP from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th.

Insider Transactions at AMREP

In other AMREP news, major shareholder James H. Dahl purchased 1,800 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The shares were acquired at an average cost of $29.95 per share, for a total transaction of $53,910.00. Following the completion of the acquisition, the insider now owns 434,574 shares of the company’s stock, valued at $13,015,491.30. The trade was a 0.42 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders bought a total of 6,800 shares of company stock worth $205,560 in the last quarter. 37.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AMREP

Several large investors have recently added to or reduced their stakes in AXR. Renaissance Technologies LLC boosted its position in AMREP by 2.1% during the second quarter. Renaissance Technologies LLC now owns 123,514 shares of the business services provider’s stock worth $2,336,000 after purchasing an additional 2,514 shares during the period. Empowered Funds LLC lifted its stake in shares of AMREP by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 42,796 shares of the business services provider’s stock valued at $1,271,000 after buying an additional 2,144 shares in the last quarter. Cerity Partners LLC lifted its stake 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 valued at $7,995,000 after buying an additional 155,755 shares in the last quarter. BNP Paribas Financial Markets bought a new position in AMREP in the 3rd quarter worth approximately $29,000. Finally, State Street Corp purchased a new position in AMREP in the 3rd quarter valued at approximately $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.