AMREP Co. (NYSE:AXR) Short Interest Up 108.9% in July

AMREP Co. (NYSE:AXR) was the target of a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 35,100 shares, a growth of 108.9% from the June 30th total of 16,800 shares. Based on an average daily volume of 18,100 shares, the days-to-cover ratio is currently 1.9 days. Currently, 1.3% of the company’s shares are sold short.

Insider Activity at AMREP

In other AMREP news, major shareholder James H. Dahl acquired 10,000 shares of AMREP stock in a transaction that occurred on Tuesday, June 18th. The stock was purchased at an average cost of $18.88 per share, with a total value of $188,800.00. Following the purchase, the insider now owns 398,428 shares in the company, valued at $7,522,320.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other AMREP news, major shareholder James H. Dahl acquired 10,000 shares of AMREP stock in a transaction that occurred on Tuesday, June 18th. The stock was purchased at an average cost of $18.88 per share, with a total value of $188,800.00. Following the purchase, the insider now owns 398,428 shares in the company, valued at $7,522,320.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder James H. Dahl acquired 5,000 shares of AMREP stock in a transaction that occurred on Monday, April 29th. The stock was acquired at an average cost of $21.04 per share, with a total value of $105,200.00. Following the completion of the purchase, the insider now owns 366,207 shares in the company, valued at approximately $7,704,995.28. The disclosure for this purchase can be found here. Insiders purchased 33,035 shares of company stock worth $670,025 in the last quarter. 37.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. AJOVista LLC bought a new position in shares of AMREP in the 4th quarter valued at approximately $29,000. Victory Capital Management Inc. acquired a new stake in AMREP in the 4th quarter valued at approximately $119,000. Empowered Funds LLC grew its holdings in AMREP by 8.0% in the 1st quarter. Empowered Funds LLC now owns 37,772 shares of the business services provider’s stock valued at $878,000 after buying an additional 2,800 shares during the last quarter. Acuitas Investments LLC grew its holdings in AMREP by 210.9% in the 4th quarter. Acuitas Investments LLC now owns 96,090 shares of the business services provider’s stock valued at $2,111,000 after buying an additional 65,184 shares during the last quarter. Finally, Cerity Partners LLC acquired a new stake in AMREP in the 4th quarter valued at approximately $2,529,000. 59.85% of the stock is owned by institutional investors.

AMREP Price Performance

Shares of AXR stock traded up $0.90 during trading on Friday, reaching $22.65. The company had a trading volume of 76,800 shares, compared to its average volume of 32,437. The firm’s 50 day simple moving average is $20.04 and its two-hundred day simple moving average is $21.04. AMREP has a one year low of $15.38 and a one year high of $24.36. The company has a market capitalization of $119.82 million, a PE ratio of 41.95 and a beta of 0.91.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded AMREP from a “hold” rating to a “sell” rating in a research note on Thursday, July 18th.

About AMREP

AMREP Corporation, through its subsidiaries, primarily engages in the real estate business. The company operates through two segments, Land Development and Homebuilding. It sells developed and undeveloped lots to homebuilders, commercial and industrial property developers, and others. In addition, the company owns mineral interests covering an area of approximately 55,000 surface acres of land in Sandoval County, New Mexico; and owns oil, gas, and minerals and mineral interests covering an area of approximately 147 surface acres of land in Brighton, Colorado.