AMREP Co. (NYSE:AXR) Major Shareholder Acquires $92,250.00 in Stock

AMREP Co. (NYSE:AXR) major shareholder James H. Dahl purchased 3,000 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was acquired at an average cost of $30.75 per share, with a total value of $92,250.00. Following the transaction, the insider now directly owns 430,774 shares in the company, valued at $13,246,300.50. The purchase was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

AMREP Price Performance

AXR stock opened at $29.39 on Friday. The business’s 50-day moving average is $23.52 and its two-hundred day moving average is $21.77. The firm has a market capitalization of $154.91 million, a P/E ratio of 54.43 and a beta of 0.87. AMREP Co. has a 1 year low of $15.38 and a 1 year high of $31.26.

AMREP (NYSE:AXR) last issued its earnings results on Friday, September 13th. The business services provider reported $0.76 earnings per share for the quarter. AMREP had a net margin of 15.64% and a return on equity of 8.05%. The firm had revenue of $19.09 million for the quarter.

Institutional Investors Weigh In On AMREP

Several institutional investors have recently modified their holdings of AXR. Victory Capital Management Inc. purchased a new position in AMREP in the fourth quarter valued at $119,000. Empowered Funds LLC boosted its position in shares of AMREP by 8.0% during the 1st quarter. Empowered Funds LLC now owns 37,772 shares of the business services provider’s stock worth $878,000 after acquiring an additional 2,800 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of AMREP by 2.1% during the 2nd quarter. Renaissance Technologies LLC now owns 123,514 shares of the business services provider’s stock worth $2,336,000 after acquiring an additional 2,514 shares in the last quarter. Finally, Gate City Capital Management LLC purchased a new position in shares of AMREP in the 4th quarter valued at about $9,505,000. 59.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded AMREP from a “hold” rating to a “buy” rating in a research note on Monday, September 16th.

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.