AMREP (NYSE:AXR) Major Shareholder James Dahl Buys 3,075 Shares

AMREP Corporation (NYSE:AXR) major shareholder James Dahl bought 3,075 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was acquired at an average price of $25.58 per share, with a total value of $78,658.50. Following the completion of the purchase, the insider directly owned 501,708 shares of the company’s stock, valued at approximately $12,833,690.64. The trade was a 0.62% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

AMREP Trading Down 2.1%

Shares of NYSE:AXR opened at $25.87 on Thursday. The stock’s 50-day moving average price is $26.27 and its two-hundred day moving average price is $24.25. AMREP Corporation has a 12-month low of $17.61 and a 12-month high of $29.01. The firm has a market cap of $137.37 million, a price-to-earnings ratio of 10.78 and a beta of 1.11.

Hedge Funds Weigh In On AMREP

A number of large investors have recently modified their holdings of the company. Empowered Funds LLC lifted its stake in shares of AMREP by 7.4% in the 1st quarter. Empowered Funds LLC now owns 48,281 shares of the business services provider’s stock valued at $968,000 after purchasing an additional 3,344 shares in the last quarter. Jane Street Group LLC raised its holdings in AMREP by 42.1% in the first 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. Acadian Asset Management LLC acquired a new position in AMREP during the first quarter valued at approximately $46,000. Geode Capital Management LLC lifted its position in AMREP by 1.7% during the second quarter. Geode Capital Management LLC now owns 33,566 shares of the business services provider’s stock valued at $703,000 after buying an additional 574 shares in the last quarter. Finally, Citadel Advisors LLC purchased a new stake in AMREP during the third quarter worth approximately $453,000. 59.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on AXR shares. Freedom Capital downgraded shares of AMREP from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Weiss Ratings raised shares of AMREP from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Finally, Wall Street Zen raised shares of AMREP from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

About AMREP

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.