AMREP (NYSE:AXR) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

AMREP Corporation (NYSE:AXR)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $22.68 and traded as high as $28.57. AMREP shares last traded at $27.9950, with a volume of 20,487 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of AMREP in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

AMREP Price Performance

The firm has a market capitalization of $148.65 million, a PE ratio of 11.66 and a beta of 1.41. The company has a 50-day moving average price of $23.91 and a 200 day moving average price of $22.68.

AMREP (NYSE:AXR) last released its earnings results on Thursday, March 12th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.01. The firm had revenue of $14.57 million during the quarter, compared to analysts’ expectations of $14.03 million. AMREP had a return on equity of 9.58% and a net margin of 24.40%.

Insider Transactions at AMREP

In related news, major shareholder James H. Dahl acquired 3,200 shares of AMREP stock in a transaction dated Tuesday, March 3rd. The shares were purchased at an average price of $25.69 per share, for a total transaction of $82,208.00. Following the completion of the transaction, the insider directly owned 470,398 shares in the company, valued at approximately $12,084,524.62. This represents a 0.68% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have purchased 23,682 shares of company stock worth $568,565. Company insiders own 37.20% of the company’s stock.

Hedge Funds Weigh In On AMREP

A number of hedge funds and other institutional investors have recently modified their holdings of AXR. NBC Securities Inc. increased 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 acquiring an additional 650 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of AMREP during the 1st quarter valued at about $46,000. Barclays PLC grew its position in shares of AMREP by 781.7% during the fourth quarter. Barclays PLC now owns 2,795 shares of the business services provider’s stock valued at $53,000 after purchasing an additional 2,478 shares in the last quarter. Jane Street Group LLC increased its holdings 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 worth $208,000 after purchasing an additional 3,077 shares during the last quarter. Finally, Citadel Advisors LLC bought a new stake in shares of AMREP in the third quarter worth about $453,000. Institutional investors own 59.85% of the company’s stock.

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.