AMREP (NYSE:AXR) Stock Passes Above 200-Day Moving Average – Should You Sell?

AMREP Co. (NYSE:AXR) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $23.19 and traded as high as $31.52. AMREP shares last traded at $31.22, with a volume of 37,853 shares changing hands.

Analysts Set New Price Targets

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

AMREP Stock Performance

The firm has a market capitalization of $165.15 million, a PE ratio of 17.74 and a beta of 0.89. The company has a fifty day simple moving average of $27.34 and a two-hundred day simple moving average of $23.19.

AMREP (NYSE:AXR) last announced its quarterly earnings data on Friday, September 13th. The business services provider reported $0.76 EPS for the quarter. The firm had revenue of $19.09 million during the quarter. AMREP had a net margin of 15.64% and a return on equity of 8.05%.

Insider Buying and Selling

In other AMREP news, major shareholder James H. Dahl acquired 5,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was acquired at an average cost of $23.48 per share, for a total transaction of $117,400.00. Following the purchase, the insider now owns 420,642 shares in the company, valued at approximately $9,876,674.16. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder James H. Dahl purchased 3,000 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were bought at an average cost of $30.75 per share, with a total value of $92,250.00. Following the transaction, the insider now owns 430,774 shares of the company’s stock, valued at approximately $13,246,300.50. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder James H. Dahl acquired 5,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was bought at an average cost of $23.48 per share, with a total value of $117,400.00. Following the acquisition, the insider now owns 420,642 shares in the company, valued at approximately $9,876,674.16. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 15,800 shares of company stock worth $415,560. 37.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in AMREP stock. Renaissance Technologies LLC boosted its holdings in shares of AMREP Co. (NYSE:AXR) by 2.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 123,514 shares of the business services provider’s stock after purchasing an additional 2,514 shares during the quarter. Renaissance Technologies LLC owned approximately 2.34% of AMREP worth $2,336,000 at the end of the most recent reporting period. Hedge funds and other 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.