AMREP (NYSE:AXR) Cut to “Hold” at StockNews.com

AMREP (NYSE:AXR) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Thursday.

AMREP Price Performance

Shares of NYSE:AXR traded down $0.19 during trading on Thursday, reaching $35.70. 43,580 shares of the company were exchanged, compared to its average volume of 14,975. The business’s fifty day simple moving average is $32.60 and its 200-day simple moving average is $25.90. AMREP has a 12-month low of $15.88 and a 12-month high of $39.67. The firm has a market capitalization of $188.75 million, a PE ratio of 20.28 and a beta of 0.92.

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

Insider Buying and Selling

In other AMREP news, major shareholder James H. Dahl acquired 3,000 shares of AMREP stock in a transaction that occurred on Tuesday, September 24th. The stock was bought at an average price of $30.75 per share, with a total value of $92,250.00. Following the completion of the purchase, the insider now directly owns 430,774 shares of the company’s stock, valued at approximately $13,246,300.50. This represents a 0.70 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders acquired a total of 6,800 shares of company stock valued at $205,560 over the last three months. 37.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in AXR. Renaissance Technologies LLC lifted its stake 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 purchasing an additional 2,514 shares during the last quarter. Empowered Funds LLC raised its holdings in AMREP by 5.3% in the third quarter. Empowered Funds LLC now owns 42,796 shares of the business services provider’s stock worth $1,271,000 after purchasing an additional 2,144 shares in the last quarter. Cerity Partners LLC lifted its position in shares of AMREP by 137.2% during the third quarter. Cerity Partners LLC now owns 269,287 shares of the business services provider’s stock valued at $7,995,000 after buying an additional 155,755 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in shares of AMREP in the 3rd quarter valued at about $29,000. Finally, State Street Corp bought a new stake in shares of AMREP in the 3rd quarter valued at about $216,000. 59.85% of the stock is currently owned by hedge funds and other institutional investors.

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.