AMREP Co. (NYSE:AXR) Short Interest Up 108.9% in July

AMREP Co. (NYSE:AXR) was the recipient of a significant growth in short interest during the month of July. As of July 15th, there was short interest totalling 35,100 shares, a growth of 108.9% from the June 30th total of 16,800 shares. Approximately 1.3% of the company’s shares are short sold. Based on an average daily volume of 18,100 shares, the short-interest ratio is currently 1.9 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of AMREP from a “hold” rating to a “sell” rating in a research note on Thursday, July 18th.

Insider Transactions at AMREP

In other news, major shareholder James H. Dahl acquired 10,000 shares of the stock in a transaction dated Tuesday, June 18th. The stock was purchased at an average cost of $18.88 per share, with a total value of $188,800.00. Following the completion of the purchase, the insider now owns 398,428 shares in the company, valued at approximately $7,522,320.64. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Adrienne Uleau sold 1,700 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $20.79, for a total value of $35,343.00. Following the completion of the sale, the vice president now owns 4,334 shares of the company’s stock, valued at $90,103.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder James H. Dahl purchased 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was bought at an average price of $18.88 per share, for a total transaction of $188,800.00. Following the acquisition, the insider now owns 398,428 shares of the company’s stock, valued at $7,522,320.64. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 33,035 shares of company stock worth $670,025. Insiders own 37.00% of the company’s stock.

Hedge Funds Weigh In On AMREP

A number of institutional investors have recently added to or reduced their stakes in AXR. Gate City Capital Management LLC purchased a new position in AMREP during the 4th quarter valued at about $9,505,000. Cerity Partners LLC purchased a new position in shares of AMREP during the fourth quarter valued at approximately $2,529,000. AJOVista LLC bought a new stake in shares of AMREP in the 4th quarter worth approximately $29,000. Acuitas Investments LLC grew its stake in shares of AMREP by 210.9% in the 4th quarter. Acuitas Investments LLC now owns 96,090 shares of the business services provider’s stock worth $2,111,000 after buying an additional 65,184 shares during the last quarter. Finally, Empowered Funds LLC increased its position in AMREP by 8.0% during the 1st quarter. Empowered Funds LLC now owns 37,772 shares of the business services provider’s stock valued at $878,000 after buying an additional 2,800 shares in the last quarter. Institutional investors own 59.85% of the company’s stock.

AMREP Stock Up 4.1 %

Shares of NYSE:AXR traded up $0.90 during trading on Friday, hitting $22.65. The stock had a trading volume of 76,800 shares, compared to its average volume of 13,078. AMREP has a 12 month low of $15.38 and a 12 month high of $24.36. The company has a market capitalization of $119.82 million, a PE ratio of 41.95 and a beta of 0.91. The firm’s fifty day moving average is $20.04 and its 200 day moving average is $21.04.

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.