AMREP Co. (NYSE:AXR) Short Interest Update

AMREP Co. (NYSE:AXR) was the recipient of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 21,300 shares, a decrease of 6.2% from the October 15th total of 22,700 shares. Currently, 0.8% of the shares of the company are short sold. Based on an average daily volume of 15,000 shares, the days-to-cover ratio is presently 1.4 days.

Analyst Ratings Changes

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

Insider Activity

In related news, major shareholder James H. Dahl acquired 3,000 shares of AMREP stock in a transaction dated Tuesday, September 24th. The stock was purchased at an average cost of $30.75 per share, for a total transaction of $92,250.00. Following the purchase, the insider now directly owns 430,774 shares of the company’s stock, valued at approximately $13,246,300.50. This trade represents a 0.70 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders acquired 10,800 shares of company stock valued at $298,160 in the last quarter. 37.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets purchased a new position in shares of AMREP in the third quarter worth $29,000. State Street Corp bought a new position in shares of AMREP during the 3rd quarter valued at about $216,000. Geode Capital Management LLC boosted its holdings in shares of AMREP by 5.4% during the 3rd quarter. Geode Capital Management LLC now owns 30,825 shares of the business services provider’s stock valued at $915,000 after purchasing an additional 1,589 shares during the last quarter. Empowered Funds LLC grew its position in shares of 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 purchasing an additional 2,144 shares in the last quarter. Finally, Renaissance Technologies LLC lifted 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 worth $2,336,000 after buying an additional 2,514 shares in the last quarter. 59.85% of the stock is currently owned by institutional investors.

AMREP Price Performance

Shares of NYSE:AXR opened at $36.58 on Wednesday. The firm’s 50 day simple moving average is $29.28 and its two-hundred day simple moving average is $23.95. The company has a market capitalization of $193.51 million, a P/E ratio of 19.01 and a beta of 0.89. AMREP has a 1-year low of $15.88 and a 1-year high of $36.61.

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

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.