AMREP Co. (NYSE:AXR) Short Interest Down 28.0% in April

AMREP Co. (NYSE:AXRGet Rating) was the target of a large drop in short interest during the month of April. As of April 15th, there was short interest totalling 18,800 shares, a drop of 28.0% from the March 31st total of 26,100 shares. Based on an average trading volume of 18,500 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.4% of the company’s shares are short sold.

Shares of NYSE:AXR traded down $0.04 during midday trading on Monday, reaching $12.86. 10 shares of the company’s stock were exchanged, compared to its average volume of 16,944. The firm’s 50 day simple moving average is $12.21 and its two-hundred day simple moving average is $13.62. The stock has a market cap of $94.34 million, a price-to-earnings ratio of 9.89 and a beta of 0.78. AMREP has a fifty-two week low of $9.88 and a fifty-two week high of $18.80.

AMREP (NYSE:AXRGet Rating) last issued its quarterly earnings data on Thursday, March 10th. The business services provider reported $0.12 earnings per share (EPS) for the quarter. The firm had revenue of $9.82 million during the quarter. AMREP had a return on equity of 10.60% and a net margin of 17.69%.

In related news, Director Edward B. Cloues II purchased 2,500 shares of AMREP stock in a transaction dated Tuesday, April 19th. The shares were acquired at an average price of $12.53 per share, for a total transaction of $31,325.00. Following the acquisition, the director now directly owns 23,865 shares in the company, valued at $299,028.45. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Nick G. Karabots sold 102,000 shares of AMREP stock in a transaction on Monday, March 28th. The stock was sold at an average price of $10.45, for a total value of $1,065,900.00. The disclosure for this sale can be found here. 26.20% of the stock is owned by company insiders.

An institutional investor recently raised its position in AMREP stock. O Shaughnessy Asset Management LLC increased its holdings in shares of AMREP Co. (NYSE:AXRGet Rating) by 136.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,295 shares of the business services provider’s stock after purchasing an additional 6,518 shares during the quarter. O Shaughnessy Asset Management LLC owned 0.15% of AMREP worth $177,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 35.52% of the company’s stock.

AMREP Company Profile (Get Rating)

AMREP Corporation, through its subsidiaries, primarily engages in the real estate business. It operates through two segments, Land Development and Homebuilding. The company sells developed and undeveloped lots to homebuilders, commercial and industrial property developers, and others. As of July 1, 2021, it owned approximately 18,000 acres in Rio Rancho, New Mexico.

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