AMREP (NYSE:AXR) Downgraded to “Hold” Rating by StockNews.com

StockNews.com lowered shares of AMREP (NYSE:AXR) from a buy rating to a hold rating in a report published on Thursday.

AMREP Stock Down 0.5 %

NYSE AXR opened at $35.70 on Thursday. AMREP has a 52 week low of $15.88 and a 52 week high of $39.67. The business has a 50 day moving average price of $32.60 and a 200-day moving average price of $25.90. The company has a market cap of $188.75 million, a price-to-earnings ratio of 20.28 and a beta of 0.92.

AMREP (NYSE:AXR) last issued its quarterly earnings data on Friday, September 13th. The business services provider reported $0.76 earnings per share (EPS) 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.

Insider Transactions at AMREP

In other news, major shareholder James H. Dahl purchased 1,800 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The shares were bought at an average cost of $29.95 per share, with a total value of $53,910.00. Following the completion of the transaction, the insider now directly owns 434,574 shares of the company’s stock, valued at approximately $13,015,491.30. This trade represents a 0.42 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders purchased a total of 6,800 shares of company stock valued at $205,560 over the last ninety days. 37.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AMREP

Several institutional investors and hedge funds have recently added to or reduced their stakes in AXR. BNP Paribas Financial Markets bought a new position in AMREP in the 3rd quarter valued at $29,000. Geode Capital Management LLC boosted its holdings in shares of AMREP by 5.4% in the 3rd quarter. Geode Capital Management LLC now owns 30,825 shares of the business services provider’s stock worth $915,000 after buying an additional 1,589 shares during the last quarter. Empowered Funds LLC grew its position in 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 buying an additional 2,144 shares during the period. Renaissance Technologies LLC raised its position in 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 acquiring an additional 2,514 shares during the period. Finally, State Street Corp purchased a new position in AMREP in the third quarter valued at about $216,000. Hedge funds and other institutional investors own 59.85% of the company’s stock.

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.