AMREP Co. (NYSE:AXR) Short Interest Update

AMREP Co. (NYSE:AXR) was the recipient of a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 19,500 shares, a drop of 9.7% from the September 15th total of 21,600 shares. Based on an average daily volume of 21,600 shares, the short-interest ratio is currently 0.9 days. Approximately 0.8% of the shares of the stock are sold short.

Insider Activity

In other news, major shareholder James H. Dahl bought 1,800 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was bought at an average price of $29.95 per share, with a total value of $53,910.00. Following the acquisition, the insider now owns 434,574 shares of the company’s stock, valued at approximately $13,015,491.30. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder James H. Dahl bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was purchased at an average price of $25.60 per share, for a total transaction of $256,000.00. Following the completion of the transaction, the insider now owns 415,642 shares in the company, valued at $10,640,435.20. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder James H. Dahl purchased 1,800 shares of AMREP stock in a transaction on Friday, October 4th. The stock was bought at an average price of $29.95 per share, for a total transaction of $53,910.00. Following the completion of the acquisition, the insider now owns 434,574 shares in the company, valued at $13,015,491.30. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 25,800 shares of company stock worth $671,560 in the last three months. Company insiders own 37.00% of the company’s stock.

Institutional Trading of AMREP

An institutional investor recently raised its position in AMREP stock. Empowered Funds LLC increased its stake in AMREP Co. (NYSE:AXR) by 8.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,772 shares of the business services provider’s stock after buying an additional 2,800 shares during the quarter. Empowered Funds LLC owned about 0.72% of AMREP worth $878,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 59.85% of the company’s stock.

Analyst Ratings Changes

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

AMREP Stock Performance

NYSE:AXR traded down $0.12 during trading hours on Thursday, reaching $27.90. The stock had a trading volume of 5,960 shares, compared to its average volume of 13,490. The stock has a market capitalization of $147.06 million, a PE ratio of 50.37 and a beta of 0.89. AMREP has a 52 week low of $15.38 and a 52 week high of $31.26. The company has a 50 day moving average price of $25.37 and a two-hundred day moving average price of $22.42.

AMREP (NYSE:AXR) last announced its quarterly 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 company had revenue of $19.09 million for the quarter.

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.