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

AMREP (NYSE:AXR) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

AMREP Price Performance

AMREP stock traded down $0.19 during midday trading on Thursday, reaching $35.70. The company’s stock had a trading volume of 43,580 shares, compared to its average volume of 14,975. AMREP has a 52-week low of $15.88 and a 52-week high of $39.67. The stock has a market capitalization of $188.75 million, a P/E ratio of 20.28 and a beta of 0.92. The stock’s 50-day simple moving average is $32.60 and its 200-day simple moving average is $25.90.

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 Activity

In other news, major shareholder James H. Dahl bought 1,800 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The shares were purchased at an average price of $29.95 per share, for a total transaction of $53,910.00. Following the completion of the transaction, the insider now directly owns 434,574 shares in the company, valued at approximately $13,015,491.30. This represents a 0.42 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have purchased 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 Trading of AMREP

Institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC increased its stake in shares of AMREP by 5.4% in the third quarter. Geode Capital Management LLC now owns 30,825 shares of the business services provider’s stock worth $915,000 after acquiring an additional 1,589 shares during the period. State Street Corp acquired a new stake in AMREP during the 3rd quarter worth about $216,000. BNP Paribas Financial Markets purchased a new position in shares of AMREP during the 3rd quarter valued at about $29,000. Cerity Partners LLC lifted its holdings in shares of AMREP by 137.2% in the 3rd quarter. Cerity Partners LLC now owns 269,287 shares of the business services provider’s stock valued at $7,995,000 after buying an additional 155,755 shares during the period. Finally, Empowered Funds LLC boosted its stake in shares of AMREP by 5.3% in the third quarter. Empowered Funds LLC now owns 42,796 shares of the business services provider’s stock worth $1,271,000 after buying an additional 2,144 shares during the last quarter. 59.85% of the stock is currently owned by institutional investors and hedge funds.

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.