AMREP Co. (NYSE:AXR) Major Shareholder Buys $59,400.00 in Stock

AMREP Co. (NYSE:AXR) major shareholder James H. Dahl purchased 2,000 shares of AMREP stock in a transaction that occurred on Friday, September 27th. The shares were bought at an average price of $29.70 per share, with a total value of $59,400.00. Following the transaction, the insider now owns 432,774 shares of the company’s stock, valued at approximately $12,853,387.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

AMREP Price Performance

NYSE:AXR traded up $0.19 on Friday, reaching $29.58. 7,160 shares of the company’s stock were exchanged, compared to its average volume of 13,650. The firm has a market cap of $155.92 million, a price-to-earnings ratio of 53.67 and a beta of 0.87. AMREP Co. has a 52 week low of $15.38 and a 52 week high of $31.26. The stock has a fifty day simple moving average of $23.67 and a 200-day simple moving average of $21.82.

AMREP (NYSE:AXR) last issued its 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 firm had revenue of $19.09 million during the quarter.

Hedge Funds Weigh In On AMREP

A number of large investors have recently modified their holdings of AXR. Gate City Capital Management LLC bought a new position in shares of AMREP in the fourth quarter valued at approximately $9,505,000. Empowered Funds LLC boosted its position in shares of AMREP by 8.0% in the first quarter. Empowered Funds LLC now owns 37,772 shares of the business services provider’s stock valued at $878,000 after acquiring an additional 2,800 shares during the period. Finally, Renaissance Technologies LLC boosted its position 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 valued at $2,336,000 after acquiring an additional 2,514 shares during the period. 59.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.