AMREP (NYSE:AXR) Cut to Hold at Freedom Capital

Freedom Capital cut shares of AMREP (NYSE:AXR) from a strong-buy rating to a hold rating in a report published on Tuesday,Zacks.com reports.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of AMREP in a research report on Monday, December 29th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

AMREP Stock Performance

Shares of AXR stock opened at $27.73 on Tuesday. AMREP has a one year low of $17.61 and a one year high of $29.00. The company’s 50-day moving average is $25.40 and its 200 day moving average is $22.97. The company has a market capitalization of $147.22 million, a price-to-earnings ratio of 11.55 and a beta of 1.23.

AMREP (NYSE:AXR) last announced its quarterly earnings data on Thursday, March 12th. The business services provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.57 by $0.01. AMREP had a net margin of 24.40% and a return on equity of 9.58%. The company had revenue of $14.57 million for the quarter, compared to the consensus estimate of $14.03 million.

Insider Activity

In related news, major shareholder James H. Dahl purchased 2,060 shares of the company’s stock in a transaction dated Tuesday, March 31st. The shares were purchased at an average price of $27.92 per share, with a total value of $57,515.20. Following the acquisition, the insider directly owned 476,458 shares in the company, valued at $13,302,707.36. The trade was a 0.43% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have bought 29,742 shares of company stock worth $731,280. Company insiders own 37.20% of the company’s stock.

Institutional Trading of AMREP

Institutional investors have recently made changes to their positions in the stock. NBC Securities Inc. lifted its position in AMREP by 65.0% during the fourth quarter. NBC Securities Inc. now owns 1,650 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 650 shares in the last quarter. Acadian Asset Management LLC purchased a new position in AMREP during the first quarter valued at $46,000. Barclays PLC lifted its position in 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 lifted its position in AMREP by 42.1% during the first 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. Finally, Citadel Advisors LLC purchased a new position in AMREP during the third quarter valued at $453,000. 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.