AMREP Co. (NYSE:AXR) Shares Sold by Oppenheimer & Close LLC

Oppenheimer & Close LLC cut its holdings in AMREP Co. (NYSE:AXR) by 5.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,950 shares of the business services provider’s stock after selling 4,000 shares during the quarter. AMREP makes up approximately 1.7% of Oppenheimer & Close LLC’s portfolio, making the stock its 21st largest holding. Oppenheimer & Close LLC owned 1.27% of AMREP worth $2,102,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of AXR. BNP Paribas Financial Markets acquired a new stake in AMREP during the third quarter worth approximately $29,000. JPMorgan Chase & Co. boosted its position in AMREP by 26,700.0% during the third quarter. JPMorgan Chase & Co. now owns 1,876 shares of the business services provider’s stock worth $56,000 after acquiring an additional 1,869 shares during the last quarter. State Street Corp acquired a new stake in AMREP during the third quarter worth approximately $216,000. Hillsdale Investment Management Inc. acquired a new stake in AMREP during the fourth quarter worth approximately $261,000. Finally, Ritholtz Wealth Management acquired a new stake in AMREP during the fourth quarter worth approximately $384,000. Institutional investors and hedge funds own 59.85% of the company’s stock.

Analyst Upgrades and Downgrades

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

AMREP Stock Down 0.6 %

Shares of AXR opened at $21.13 on Friday. The firm has a market cap of $111.71 million, a PE ratio of 9.19 and a beta of 0.99. The company’s fifty day moving average is $27.28 and its two-hundred day moving average is $29.56. AMREP Co. has a fifty-two week low of $15.88 and a fifty-two week high of $39.68.

AMREP (NYSE:AXR) last announced its quarterly earnings results on Friday, March 7th. The business services provider reported $0.13 earnings per share for the quarter. The company had revenue of $7.52 million for the quarter. AMREP had a net margin of 19.52% and a return on equity of 10.31%.

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.