Insider Selling: AMREP Co. (NYSE:AXR) Director Sells $410,280.00 in Stock

AMREP Co. (NYSE:AXR) Director Robert Robotti sold 13,000 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $31.56, for a total value of $410,280.00. Following the completion of the transaction, the director now directly owns 296,594 shares of the company’s stock, valued at approximately $9,360,506.64. This trade represents a 4.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Robert Robotti also recently made the following trade(s):

• On Wednesday, December 18th, Robert Robotti sold 201 shares of AMREP stock. The shares were sold at an average price of $31.75, for a total transaction of $6,381.75.

AMREP Stock Up 5.5 %

AXR stock opened at $31.41 on Thursday. The company has a market cap of $166.06 million, a price-to-earnings ratio of 17.85 and a beta of 0.92. AMREP Co. has a twelve month low of $15.88 and a twelve month high of $39.67. The business has a 50 day moving average price of $33.03 and a two-hundred day moving average price of $26.61.

AMREP (NYSE:AXR) last issued its earnings results on Friday, December 13th. The business services provider reported $0.75 EPS for the quarter. AMREP had a net margin of 15.64% and a return on equity of 8.05%.

Institutional Trading of AMREP

Hedge funds have recently modified their holdings of the stock. Cerity Partners LLC grew its stake 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 worth $7,995,000 after acquiring an additional 155,755 shares in the last quarter. Renaissance Technologies LLC boosted 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 valued at $2,336,000 after acquiring an additional 2,514 shares during the period. Empowered Funds LLC increased its stake in AMREP by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 42,796 shares of the business services provider’s stock worth $1,271,000 after acquiring an additional 2,144 shares during the last quarter. Geode Capital Management LLC increased its stake in AMREP by 5.4% in the third quarter. Geode Capital Management LLC now owns 30,825 shares of the business services provider’s stock valued at $915,000 after acquiring an additional 1,589 shares during the last quarter. Finally, State Street Corp purchased a new position in AMREP in the 3rd quarter worth $216,000. Institutional investors own 59.85% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of AMREP from a “buy” rating to a “hold” rating in a report on Thursday, December 12th.

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.