JPMorgan Chase & Co. Raises Stake in AMREP Co. (NYSE:AXR)

JPMorgan Chase & Co. increased its stake in shares of AMREP Co. (NYSE:AXR) by 293.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,390 shares of the business services provider’s stock after buying an additional 5,514 shares during the period. JPMorgan Chase & Co. owned about 0.14% of AMREP worth $232,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Hillsdale Investment Management Inc. purchased a new position in shares of AMREP during the 4th quarter valued at $261,000. Truffle Hound Capital LLC purchased a new stake in AMREP during the fourth quarter valued at about $2,041,000. AlphaCentric Advisors LLC bought a new position in AMREP during the fourth quarter worth about $719,000. Peapod Lane Capital LLC purchased a new position in shares of AMREP in the fourth quarter worth about $1,411,000. Finally, Empowered Funds LLC raised its position in shares of AMREP by 5.0% in the fourth quarter. Empowered Funds LLC now owns 44,937 shares of the business services provider’s stock valued at $1,411,000 after purchasing an additional 2,141 shares during the period. Institutional investors own 59.85% of the company’s stock.

AMREP Price Performance

NYSE:AXR opened at $22.76 on Friday. AMREP Co. has a 1 year low of $15.88 and a 1 year high of $39.68. The stock’s fifty day moving average price is $21.55 and its two-hundred day moving average price is $28.18. The company has a market cap of $120.31 million, a P/E ratio of 9.89 and a beta of 1.11.

AMREP (NYSE:AXR) last posted its earnings results on Friday, March 7th. The business services provider reported $0.13 earnings per share for the quarter. The business had revenue of $7.52 million for the quarter. AMREP had a net margin of 19.52% and a return on equity of 10.31%.

About AMREP

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.