Short Interest in AMREP Co. (NYSE:AXR) Grows By 9.8%

AMREP Co. (NYSE:AXR) was the recipient of a large growth in short interest in December. As of December 15th, there was short interest totalling 21,200 shares, a growth of 9.8% from the November 30th total of 19,300 shares. Based on an average trading volume of 23,400 shares, the days-to-cover ratio is presently 0.9 days. Currently, 0.8% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded AMREP from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th.

Insider Buying and Selling

In other AMREP news, major shareholder James H. Dahl bought 1,800 shares of the stock in a transaction dated Friday, October 4th. The shares were acquired at an average cost of $29.95 per share, for a total transaction of $53,910.00. Following the completion of the transaction, the insider now owns 434,574 shares in the company, valued at approximately $13,015,491.30. The trade was a 0.42 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Robotti sold 13,000 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $31.56, for a total transaction of $410,280.00. Following the completion of the sale, the director now 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 disclosure for this sale can be found here. 37.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On AMREP

Several institutional investors and hedge funds have recently added to or reduced their stakes in AXR. BNP Paribas Financial Markets purchased a new position in shares of AMREP in the 3rd quarter valued at about $29,000. Cerity Partners LLC increased its holdings in AMREP by 137.2% in the third 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 in the last quarter. Renaissance Technologies LLC lifted its position in shares of AMREP by 2.1% during the 2nd 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 boosted its stake in shares of AMREP by 5.3% during 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 in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of AMREP by 26,700.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,876 shares of the business services provider’s stock worth $56,000 after acquiring an additional 1,869 shares during the period. Institutional investors and hedge funds own 59.85% of the company’s stock.

AMREP Trading Down 1.3 %

Shares of AMREP stock traded down $0.41 during trading hours on Wednesday, hitting $31.40. 21,012 shares of the company were exchanged, compared to its average volume of 16,237. The business has a 50-day moving average of $33.27 and a 200-day moving average of $26.98. AMREP has a 1 year low of $15.88 and a 1 year high of $39.67. The stock has a market capitalization of $166.01 million, a price-to-earnings ratio of 17.84 and a beta of 0.92.

AMREP (NYSE:AXR) last released 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%.

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.