Empowered Funds LLC Makes New $1.23 Million Investment in AMREP Corporation $AXR

Empowered Funds LLC acquired a new stake in AMREP Corporation (NYSE:AXR) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 48,565 shares of the business services provider’s stock, valued at approximately $1,225,000. Empowered Funds LLC owned approximately 0.91% of AMREP as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AXR. Allworth Financial LP purchased a new position in AMREP during the second quarter worth about $45,000. Acadian Asset Management LLC acquired a new position in AMREP during the first quarter worth approximately $46,000. Barclays PLC increased its position in 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 acquiring an additional 2,478 shares during the period. Marquette Asset Management LLC acquired a new stake in shares of AMREP during the second quarter worth $164,000. Finally, Jane Street Group LLC boosted its holdings in 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 purchasing an additional 3,077 shares in the last quarter. Hedge funds and other institutional investors own 59.85% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder James H. Dahl bought 3,075 shares of the company’s stock in a transaction dated Monday, June 22nd. The stock was bought at an average price of $25.58 per share, with a total value of $78,658.50. Following the transaction, the insider owned 501,708 shares of the company’s stock, valued at approximately $12,833,690.64. This trade represents a 0.62% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Adrienne Uleau sold 4,000 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $23.49, for a total transaction of $93,960.00. Following the transaction, the chief financial officer directly owned 6,574 shares in the company, valued at $154,423.26. The trade was a 37.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 37.40% of the stock is currently owned by company insiders.

AMREP Price Performance

Shares of NYSE AXR opened at $23.12 on Friday. AMREP Corporation has a 1-year low of $17.61 and a 1-year high of $29.01. The company has a market capitalization of $123.00 million, a price-to-earnings ratio of 12.17 and a beta of 1.10. The business has a 50-day moving average of $23.92 and a 200-day moving average of $25.49.

AMREP (NYSE:AXR) last posted its quarterly earnings data on Friday, July 24th. The business services provider reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.20). The firm had revenue of $11.02 million during the quarter, compared to analysts’ expectations of $12.36 million. AMREP had a net margin of 19.47% and a return on equity of 7.47%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut AMREP from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, July 28th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company 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.