AMREP Co. (NYSE:AXR) Short Interest Up 9.8% in December

AMREP Co. (NYSE:AXR) was the target of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 21,200 shares, an increase of 9.8% from the November 30th total of 19,300 shares. Based on an average daily trading volume, of 23,400 shares, the short-interest ratio is currently 0.9 days. Approximately 0.8% of the company’s shares are sold short.

Insider Transactions at AMREP

In other news, major shareholder James H. Dahl bought 1,800 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was acquired at an average price of $29.95 per share, for a total transaction of $53,910.00. Following the acquisition, the insider now owns 434,574 shares of the company’s stock, valued at $13,015,491.30. This trade represents a 0.42 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert Robotti sold 13,000 shares of the firm’s stock in a transaction that occurred on 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 owns 296,594 shares in the company, valued at $9,360,506.64. The trade was a 4.20 % decrease in their position. The disclosure for this sale can be found here. Insiders own 37.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Cerity Partners LLC boosted its holdings in shares of AMREP by 137.2% in the 3rd 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 period. State Street Corp acquired a new stake in AMREP in the 3rd quarter valued at approximately $216,000. Renaissance Technologies LLC grew its stake in shares of AMREP by 2.1% in the second 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 in the last quarter. Empowered Funds LLC increased its holdings in shares of AMREP by 5.3% during the third quarter. Empowered Funds LLC now owns 42,796 shares of the business services provider’s stock valued at $1,271,000 after purchasing an additional 2,144 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of AMREP by 26,700.0% during the third quarter. JPMorgan Chase & Co. now owns 1,876 shares of the business services provider’s stock valued at $56,000 after purchasing an additional 1,869 shares in the last quarter. Institutional investors own 59.85% of the company’s stock.

Analysts Set New Price Targets

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

AMREP Price Performance

Shares of AXR opened at $31.40 on Thursday. AMREP has a 12 month low of $15.88 and a 12 month high of $39.67. The stock has a market cap of $166.01 million, a PE ratio of 17.84 and a beta of 0.92. The stock’s 50-day moving average is $33.34 and its two-hundred day moving average is $27.01.

AMREP (NYSE:AXR) last released its quarterly earnings results on Friday, December 13th. The business services provider reported $0.75 earnings per share for the quarter. AMREP had a return on equity of 8.05% and a net margin of 15.64%.

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.