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

by · The Cerbat Gem

AMREP Corporation (NYSE:AXRGet Free Report)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $23.03 and traded as high as $28.11. AMREP shares last traded at $26.8840, with a volume of 15,747 shares traded.

Wall Street Analysts Forecast Growth

AXR has been the topic of several recent research reports. Freedom Capital downgraded AMREP from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Wall Street Zen upgraded AMREP to a “hold” rating in a research note on Saturday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of AMREP in a research note on Monday, December 29th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, AMREP presently has an average rating of “Hold”.

Check Out Our Latest Stock Analysis on AMREP

AMREP Stock Performance

The stock has a 50-day simple moving average of $26.19 and a two-hundred day simple moving average of $23.05. The firm has a market cap of $144.73 million, a PE ratio of 11.36 and a beta of 1.23.

AMREP (NYSE:AXRGet Free Report) last posted its earnings results on Thursday, March 12th. The business services provider reported $0.58 earnings per share (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 business had revenue of $14.57 million for the quarter, compared to analysts’ expectations of $14.03 million.

Insider Transactions at AMREP

In related news, major shareholder James H. Dahl bought 2,060 shares of the business’s stock in a transaction on Tuesday, March 31st. The stock was acquired at an average price of $27.92 per share, with a total value of $57,515.20. Following the transaction, the insider owned 476,458 shares in the company, valued at approximately $13,302,707.36. This trade represents a 0.43% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders have purchased a total of 29,742 shares of company stock valued at $731,280 in the last 90 days. Company insiders own 37.20% of the company’s stock.

Hedge Funds Weigh In On AMREP

A number of institutional investors and hedge funds have recently modified their holdings of AXR. NBC Securities Inc. boosted its stake in shares of AMREP by 65.0% in the 4th quarter. NBC Securities Inc. now owns 1,650 shares of the business services provider’s stock worth $31,000 after buying an additional 650 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of AMREP in the 1st quarter worth $46,000. Barclays PLC boosted its stake in shares of AMREP by 781.7% in the 4th quarter. Barclays PLC now owns 2,795 shares of the business services provider’s stock worth $53,000 after buying an additional 2,478 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of AMREP by 42.1% in the 1st quarter. Jane Street Group LLC now owns 10,394 shares of the business services provider’s stock worth $208,000 after buying an additional 3,077 shares during the last quarter. Finally, Citadel Advisors LLC purchased a new position in shares of AMREP in the 3rd quarter worth $453,000. 59.85% of the stock is currently owned by hedge funds and other institutional investors.

AMREP Company Profile

(Get Free Report)

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.

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