AMREP (NYSE:AXR) Stock Crosses Above Two Hundred Day Moving Average – Time to Sell?

AMREP Co. (NYSE:AXR) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $22.69 and traded as high as $28.80. AMREP shares last traded at $28.30, with a volume of 55,546 shares traded.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of AMREP from a “hold” rating to a “buy” rating in a research report on Monday, September 16th.

AMREP Trading Up 0.2 %

The company has a market capitalization of $149.17 million, a P/E ratio of 52.41 and a beta of 0.89. The business has a 50 day moving average price of $26.13 and a 200 day moving average price of $22.69.

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

Insider Buying and Selling

In other AMREP news, major shareholder James H. Dahl bought 1,800 shares of the stock in a transaction that occurred on Friday, October 4th. The stock was acquired at an average cost of $29.95 per share, with a total value of $53,910.00. Following the purchase, the insider now owns 434,574 shares in the company, valued at $13,015,491.30. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder James H. Dahl purchased 1,800 shares of AMREP stock in a transaction on Friday, October 4th. The stock was purchased at an average price of $29.95 per share, with a total value of $53,910.00. Following the transaction, the insider now directly owns 434,574 shares in the company, valued at $13,015,491.30. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder James H. Dahl purchased 2,000 shares of AMREP stock in a transaction on Friday, September 27th. The shares were purchased at an average cost of $29.70 per share, with a total value of $59,400.00. Following the transaction, the insider now owns 432,774 shares in the company, valued at approximately $12,853,387.80. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders acquired 25,800 shares of company stock valued at $671,560. 37.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AMREP

A hedge fund recently raised its stake in AMREP stock. Renaissance Technologies LLC increased its stake in AMREP Co. (NYSE:AXR) by 2.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 123,514 shares of the business services provider’s stock after buying an additional 2,514 shares during the quarter. Renaissance Technologies LLC owned approximately 2.34% of AMREP worth $2,336,000 as of its most recent SEC filing. 59.85% of the stock is owned by hedge funds and other institutional investors.

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.