AMREP (NYSE:AXR) Share Price Passes Above 200-Day Moving Average – Here’s What Happened

AMREP Co. (NYSE:AXR) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $28.20 and traded as high as $34.00. AMREP shares last traded at $32.81, with a volume of 13,536 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered AMREP from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th.

AMREP Trading Down 3.5 %

The business has a 50 day moving average of $33.24 and a 200-day moving average of $28.29. The firm has a market capitalization of $159.76 million, a P/E ratio of 13.13 and a beta of 0.96.

AMREP (NYSE:AXR) last released its quarterly earnings data on Friday, December 13th. The business services provider reported $0.75 earnings per share (EPS) for the quarter. AMREP had a return on equity of 10.31% and a net margin of 19.52%.

Insider Transactions at AMREP

In other news, Director Robert Robotti sold 13,000 shares of AMREP stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $31.56, for a total transaction of $410,280.00. Following the completion of the transaction, the director now directly owns 296,594 shares in the company, valued at $9,360,506.64. This trade represents a 4.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 37.60% of the company’s stock.

Institutional Investors Weigh In On AMREP

A number of hedge funds have recently modified their holdings of AXR. BNP Paribas Financial Markets purchased a new stake in AMREP in the 3rd quarter worth approximately $29,000. JPMorgan Chase & Co. increased its holdings in shares of AMREP by 26,700.0% in the third quarter. JPMorgan Chase & Co. now owns 1,876 shares of the business services provider’s stock worth $56,000 after buying an additional 1,869 shares during the period. State Street Corp purchased a new stake in shares of AMREP during the third quarter valued at approximately $216,000. Ritholtz Wealth Management purchased a new stake in AMREP during the 4th quarter valued at $384,000. Finally, Geode Capital Management LLC grew its position in shares of AMREP by 5.4% in the 3rd quarter. Geode Capital Management LLC now owns 30,825 shares of the business services provider’s stock worth $915,000 after buying an additional 1,589 shares during the last quarter. Institutional investors own 59.85% of the company’s stock.

AMREP Company Profile

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.