Robotti Robert Invests $13.16 Million in AMREP Corporation $AXR

Robotti Robert acquired a new stake in AMREP Corporation (NYSE:AXR) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 521,765 shares of the business services provider’s stock, valued at approximately $13,159,000. AMREP comprises 2.1% of Robotti Robert’s portfolio, making the stock its 14th biggest position. Robotti Robert owned about 9.81% of AMREP at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in AMREP by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 195,226 shares of the business services provider’s stock worth $3,670,000 after purchasing an additional 527 shares during the last quarter. Cerity Partners LLC increased its stake in AMREP by 0.4% in the fourth quarter. Cerity Partners LLC now owns 169,022 shares of the business services provider’s stock valued at $3,178,000 after purchasing an additional 665 shares during the last quarter. AlphaCentric Advisors LLC purchased a new position in AMREP in the fourth quarter valued at approximately $1,222,000. Crossingbridge Advisors LLC raised its holdings in AMREP by 30.0% during the fourth quarter. Crossingbridge Advisors LLC now owns 65,000 shares of the business services provider’s stock worth $1,222,000 after purchasing an additional 15,000 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in AMREP by 7.4% during the first quarter. Empowered Funds LLC now owns 48,281 shares of the business services provider’s stock worth $968,000 after purchasing an additional 3,344 shares in the last quarter. Hedge funds and other institutional investors own 59.85% of the company’s stock.

AMREP Stock Performance

AXR stock opened at $23.04 on Wednesday. The stock has a market capitalization of $122.59 million, a PE ratio of 12.13 and a beta of 1.12. The company has a fifty day moving average of $24.52 and a 200-day moving average of $25.40. AMREP Corporation has a one year low of $17.61 and a one year high of $29.01.

AMREP (NYSE:AXR) last issued its quarterly earnings results on Friday, July 24th. The business services provider reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.20). The firm had revenue of $11.02 million for the quarter, compared to analyst estimates of $12.36 million. AMREP had a return on equity of 7.47% and a net margin of 19.47%.

Insider Buying and Selling

In other AMREP news, major shareholder James H. Dahl bought 3,075 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was acquired at an average cost of $25.58 per share, with a total value of $78,658.50. Following the purchase, the insider owned 501,708 shares in the company, valued at approximately $12,833,690.64. This represents a 0.62% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Adrienne Uleau sold 4,000 shares of AMREP stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $23.49, for a total value of $93,960.00. Following the completion of the sale, the chief financial officer owned 6,574 shares in the company, valued at approximately $154,423.26. This trade represents a 37.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 37.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on AXR shares. Wall Street Zen upgraded shares of AMREP from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Weiss Ratings lowered shares of AMREP from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, July 28th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

AMREP Company Profile

AMREP Corporation (NYSE: AXR) is a Denver-area based company specializing in land development and natural resource management. Since its founding in 1961, AMREP has built a diversified platform that spans real estate operations and resource extraction, serving both individual and institutional clients in the western United States.

Through its real estate segment, AMREP Southwest Inc acquires, develops and markets residential lots in planned communities across New Mexico and Colorado. Notable projects include the Tanoan Country Club and adjacent residential neighborhoods near Albuquerque, where the company employs a direct-to-consumer marketing model to reach out-of-state and local buyers.