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

AMREP Corporation (NYSE:AXR) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $22.32 and traded as high as $24.43. AMREP shares last traded at $23.92, with a volume of 2,866 shares changing hands.

Analyst Upgrades and Downgrades

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

AMREP Price Performance

The stock has a market capitalization of $127.02 million, a price-to-earnings ratio of 12.27 and a beta of 1.41. The stock has a 50 day moving average price of $22.61 and a 200-day moving average price of $22.32.

AMREP (NYSE:AXR) last posted its quarterly earnings data on Friday, December 12th. The business services provider reported $0.22 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.22). AMREP had a net margin of 22.86% and a return on equity of 7.98%. The firm had revenue of $9.40 million during the quarter, compared to analyst estimates of $14.97 million.

Insiders Place Their Bets

In other AMREP news, major shareholder James H. Dahl acquired 6,124 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was bought at an average price of $21.60 per share, with a total value of $132,278.40. Following the purchase, the insider owned 440,698 shares in the company, valued at approximately $9,519,076.80. The trade was a 1.41% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have bought 23,682 shares of company stock worth $568,565 in the last quarter. Insiders own 37.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. NBC Securities Inc. increased its holdings in shares of AMREP by 65.0% in 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 during the last quarter. Acadian Asset Management LLC purchased a new position in AMREP during the first quarter worth about $46,000. Barclays PLC raised its stake in AMREP by 781.7% during the fourth quarter. Barclays PLC now owns 2,795 shares of the business services provider’s stock worth $53,000 after purchasing an additional 2,478 shares during the period. Jane Street Group LLC boosted its holdings in AMREP by 42.1% in the 1st 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 during the last quarter. Finally, Citadel Advisors LLC purchased a new stake in shares of AMREP during the 3rd quarter valued at 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.