AMREP (NYSE:AXR) Major Shareholder James Dahl Acquires 6,124 Shares of Stock

AMREP Corporation (NYSE:AXR) major shareholder James Dahl bought 6,124 shares of AMREP stock in a transaction dated Tuesday, February 10th. The shares were acquired at an average price of $21.60 per share, with a total value of $132,278.40. Following the completion of the purchase, the insider directly owned 440,698 shares in the company, valued at $9,519,076.80. This trade represents a 1.41% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

AMREP Trading Up 0.8%

AXR opened at $23.76 on Friday. AMREP Corporation has a 1-year low of $17.60 and a 1-year high of $30.83. The stock’s fifty day simple moving average is $20.45 and its 200 day simple moving average is $21.92. The stock has a market cap of $126.14 million, a PE ratio of 12.18 and a beta of 1.44.

AMREP (NYSE:AXR) last released its quarterly earnings data on Friday, December 12th. The business services provider reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.22). AMREP had a return on equity of 7.98% and a net margin of 22.86%.The company had revenue of $9.40 million for the quarter, compared to the consensus estimate of $14.97 million.

Institutional Trading of AMREP

Several hedge funds and other institutional investors have recently bought and sold shares of AXR. NBC Securities Inc. boosted its holdings in 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 purchasing an additional 650 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of AMREP in the first quarter valued at approximately $46,000. Jane Street Group LLC boosted its stake in shares of 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. Ritholtz Wealth Management boosted its stake in shares of AMREP by 42.1% in the second quarter. Ritholtz Wealth Management now owns 17,375 shares of the business services provider’s stock valued at $364,000 after buying an additional 5,144 shares during the period. Finally, Citadel Advisors LLC acquired a new stake in AMREP during the third quarter worth approximately $453,000. Institutional investors and hedge funds own 59.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wall Street Zen raised shares of AMREP from a “hold” rating to a “buy” rating in a report on Sunday, October 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AMREP in a research report on Monday, December 29th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, AMREP presently has a consensus rating of “Hold”.

AMREP Company Profile

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.