AMREP (NYSE:AXR) Stock Passes Above 200-Day Moving Average – What’s Next?
by Tristan Rich · The Markets DailyAMREP Corporation (NYSE:AXR – Get Free Report)’s share price 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.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of AMREP in a research note on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.
Check Out Our Latest Research Report on AXR
AMREP Price Performance
The stock has a market capitalization of $129.35 million, a PE ratio of 10.15 and a beta of 1.41. The company’s 50 day moving average price is $22.81 and its two-hundred day moving average price is $22.34.
AMREP (NYSE:AXR – Get Free Report) last announced its quarterly earnings data 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 9.68%. The company had revenue of $14.57 million during the quarter, compared to analysts’ expectations of $14.03 million.
Insider Activity
In related news, major shareholder James H. Dahl purchased 3,200 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was purchased at an average price of $25.69 per share, with a total value of $82,208.00. Following the completion of the acquisition, the insider owned 470,398 shares in the company, valued at $12,084,524.62. This trade represents a 0.68% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders purchased 23,682 shares of company stock valued at $568,565 in the last ninety days. 37.20% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On AMREP
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Robotti Robert grew its holdings in AMREP by 0.8% in the 4th quarter. Robotti Robert now owns 521,765 shares of the business services provider’s stock valued at $9,809,000 after buying an additional 4,327 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of AMREP by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 195,226 shares of the business services provider’s stock worth $3,670,000 after acquiring an additional 527 shares during the period. Cerity Partners LLC boosted its position in shares of AMREP by 0.4% during the 4th quarter. Cerity Partners LLC now owns 169,022 shares of the business services provider’s stock valued at $3,178,000 after acquiring an additional 665 shares during the last quarter. Truffle Hound Capital LLC boosted its position in shares of AMREP by 31.0% during the 3rd quarter. Truffle Hound Capital LLC now owns 150,000 shares of the business services provider’s stock valued at $3,588,000 after acquiring an additional 35,476 shares during the last quarter. Finally, Gate City Capital Management LLC grew its holdings in shares of AMREP by 271.0% in the second quarter. Gate City Capital Management LLC now owns 103,583 shares of the business services provider’s stock valued at $2,168,000 after purchasing an additional 75,661 shares during the period. Institutional investors and hedge funds 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.