Insider Buying: AMREP Co. (NYSE:AXR) Major Shareholder Buys 3,000 Shares of Stock

AMREP Co. (NYSE:AXR) major shareholder James H. Dahl purchased 3,000 shares of the stock in a transaction dated Tuesday, September 24th. The shares were acquired at an average price of $30.75 per share, with a total value of $92,250.00. Following the completion of the acquisition, the insider now owns 430,774 shares in the company, valued at approximately $13,246,300.50. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

AMREP Stock Performance

Shares of NYSE AXR traded down $0.37 during mid-day trading on Tuesday, reaching $30.30. 23,752 shares of the company’s stock were exchanged, compared to its average volume of 13,696. The firm has a market capitalization of $159.71 million, a price-to-earnings ratio of 56.89 and a beta of 0.87. AMREP Co. has a 52-week low of $15.38 and a 52-week high of $31.08. The company’s 50-day moving average is $23.16 and its 200-day moving average is $21.66.

AMREP (NYSE:AXR) last posted its earnings results on Friday, September 13th. The business services provider reported $0.76 earnings per share (EPS) for the quarter. The firm had revenue of $19.09 million for the quarter. AMREP had a return on equity of 5.85% and a net margin of 13.02%.

Institutional Investors Weigh In On AMREP

Several hedge funds and other institutional investors have recently made changes to their positions in AXR. Victory Capital Management Inc. acquired a new stake in shares of AMREP during the 4th quarter worth about $119,000. Gate City Capital Management LLC acquired a new stake in shares of AMREP during the 4th quarter worth about $9,505,000. Empowered Funds LLC raised 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. Finally, Renaissance Technologies LLC raised 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. Institutional investors and hedge funds own 59.85% of the company’s stock.

Analysts Set New Price Targets

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

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.