AMREP (NYSE:AXR) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

AMREP Corporation (NYSE:AXR)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $24.91 and traded as high as $26.28. AMREP shares last traded at $25.7450, with a volume of 12,223 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Wall Street Zen raised AMREP from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Freedom Capital downgraded AMREP from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Finally, Weiss Ratings upgraded AMREP from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold”.

AMREP Stock Performance

The stock’s 50-day moving average is $25.61 and its two-hundred day moving average is $24.91. The stock has a market cap of $136.58 million, a PE ratio of 10.73 and a beta of 1.12.

Insider Activity

In other AMREP news, Director Timothy S. Mcnaney purchased 1,765 shares of the business’s stock in a transaction on Tuesday, April 21st. The shares were bought at an average cost of $28.17 per share, for a total transaction of $49,720.05. Following the completion of the purchase, the director directly owned 1,765 shares of the company’s stock, valued at approximately $49,720.05. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder James H. Dahl purchased 5,000 shares of AMREP stock in a transaction dated Wednesday, May 20th. The shares were acquired at an average cost of $24.50 per share, for a total transaction of $122,500.00. Following the transaction, the insider directly owned 493,133 shares of the company’s stock, valued at approximately $12,081,758.50. This represents a 1.02% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have purchased 24,515 shares of company stock worth $647,738. 37.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AMREP

A number of hedge funds have recently added to or reduced their stakes in AXR. Empowered Funds LLC increased its position in shares of AMREP by 7.4% during the first quarter. Empowered Funds LLC now owns 48,281 shares of the business services provider’s stock worth $968,000 after acquiring an additional 3,344 shares during the period. Jane Street Group LLC increased its holdings in AMREP by 42.1% during the 1st 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 period. Acadian Asset Management LLC acquired a new stake in AMREP in the 1st quarter valued at about $46,000. Geode Capital Management LLC grew its position in shares of AMREP by 1.7% during the second quarter. Geode Capital Management LLC now owns 33,566 shares of the business services provider’s stock worth $703,000 after buying an additional 574 shares in the last quarter. Finally, Citadel Advisors LLC purchased a new stake in shares of AMREP during the third quarter worth approximately $453,000. 59.85% of the stock is currently owned by institutional investors and hedge funds.

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.