Wall Street Zen Upgrades AMREP (NYSE:AXR) to “Sell”

AMREP (NYSE:AXR) was upgraded by Wall Street Zen from a “strong sell” rating to a “sell” rating in a report released on Sunday, Wall Street Zen reports.

A number of other analysts have also issued reports on the stock. Weiss Ratings lowered shares of AMREP from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, September 18th. Freedom Broker reduced their target price on shares of AMREP from $26.00 to $22.00 and set a “hold” rating on the stock in a research report on Tuesday, September 15th. Three investment analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $22.00.

AMREP Stock Performance

Shares of NYSE:AXR opened at $20.55 on Friday. The company has a market cap of $109.35 million, a P/E ratio of 19.03 and a beta of 1.15. AMREP has a one year low of $17.61 and a one year high of $29.01. The business’s 50-day simple moving average is $22.51 and its 200 day simple moving average is $24.81.

AMREP (NYSE:AXR) last released its quarterly earnings results on Friday, September 11th. The business services provider reported $0.05 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.39). The company had revenue of $6.05 million for the quarter, compared to analyst estimates of $14.27 million. AMREP had a return on equity of 4.21% and a net margin of 14.31%.

Insiders Place Their Bets

In other AMREP news, CFO Adrienne Uleau sold 4,000 shares of the business’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $23.49, for a total transaction of $93,960.00. Following the completion of the sale, the chief financial officer owned 6,574 shares in the company, valued at $154,423.26. The trade was a 37.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 37.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Allworth Financial LP acquired a new stake in AMREP during the second quarter worth about $45,000. Marquette Asset Management LLC bought a new position in AMREP in the second quarter worth about $164,000. BlackRock Inc. acquired a new position in AMREP in the second quarter valued at approximately $561,000. Empowered Funds LLC acquired a new position in AMREP in the second quarter valued at approximately $1,225,000. Finally, JB Capital Partners LP acquired a new position in AMREP in the second quarter valued at approximately $3,565,099. 59.85% of the stock is owned by institutional investors and hedge funds.

About AMREP

AMREP Corporation (NYSE:AXR) is a diversified company with operations in fulfillment services and real estate. Through its fulfillment businesses, the company provides subscription and membership fulfillment, direct-mail services, customer contact and support, data processing, printing, and related distribution services for publishers, membership organizations, and other clients.

AMREP’s real estate operations are conducted primarily through subsidiaries involved in the acquisition, development, and sale of residential and commercial land.