AMREP (NYSE:AXR) Share Price Passes Below Two Hundred Day Moving Average – Here’s What Happened

AMREP Corporation (NYSE:AXR) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $22.27 and traded as low as $18.75. AMREP shares last traded at $18.9050, with a volume of 4,003 shares.

Analyst Ratings Changes

A number of equities analysts have recently commented on AXR shares. Weiss Ratings restated a “hold (c)” rating on shares of AMREP in a research report on Monday. Wall Street Zen raised shares of AMREP from a “hold” rating to a “buy” rating in a report on Sunday, October 19th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, AMREP currently has an average rating of “Hold”.

AMREP Stock Performance

The stock’s 50 day simple moving average is $21.18 and its 200 day simple moving average is $22.27. The firm has a market cap of $100.39 million, a PE ratio of 9.69 and a beta of 1.52.

AMREP (NYSE:AXR) last posted its quarterly earnings data on Friday, December 12th. The business services provider reported $0.22 earnings per share (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

Hedge funds and other institutional investors have recently bought and sold shares of the company. Gate City Capital Management LLC raised its stake in shares of AMREP by 271.0% during the second quarter. Gate City Capital Management LLC now owns 103,583 shares of the business services provider’s stock worth $2,168,000 after acquiring an additional 75,661 shares in the last quarter. Truffle Hound Capital LLC grew its holdings in shares of AMREP by 129.0% during the 2nd quarter. Truffle Hound Capital LLC now owns 114,524 shares of the business services provider’s stock valued at $2,397,000 after purchasing an additional 64,524 shares during the last quarter. Mink Brook Asset Management LLC purchased a new position in AMREP in the 3rd quarter worth $1,196,000. Citadel Advisors LLC purchased a new position in AMREP in the 3rd quarter worth $453,000. Finally, Crossingbridge Advisors LLC lifted its stake in AMREP by 17.6% in the second quarter. Crossingbridge Advisors LLC now owns 50,000 shares of the business services provider’s stock worth $1,046,000 after purchasing an additional 7,500 shares during the last quarter. Hedge funds and other institutional investors own 59.85% of the company’s stock.

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.