Robert Robotti Sells 13,000 Shares of AMREP Co. (NYSE:AXR) Stock

AMREP Co. (NYSE:AXR) Director Robert Robotti sold 13,000 shares of AMREP stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $31.56, for a total value of $410,280.00. Following the transaction, the director now directly owns 296,594 shares in the company, valued at approximately $9,360,506.64. The trade was a 4.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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 Price Performance

Shares of AXR traded down $2.13 during trading hours on Monday, hitting $29.78. 53,362 shares of the company were exchanged, compared to its average volume of 16,193. The company has a market capitalization of $157.45 million, a PE ratio of 16.92 and a beta of 0.92. The firm has a fifty day simple moving average of $32.98 and a 200-day simple moving average of $26.54. AMREP Co. has a one year low of $15.88 and a one year high of $39.67.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AXR. BNP Paribas Financial Markets purchased a new stake in shares of AMREP in the 3rd quarter valued at approximately $29,000. State Street Corp acquired a new stake in AMREP during the 3rd quarter valued at $216,000. Geode Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 1,589 shares in the last quarter. Empowered Funds LLC boosted its position in shares of AMREP by 5.3% in the third quarter. Empowered Funds LLC now owns 42,796 shares of the business services provider’s stock worth $1,271,000 after buying an additional 2,144 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in shares of AMREP by 2.1% during the second quarter. Renaissance Technologies LLC now owns 123,514 shares of the business services provider’s stock valued at $2,336,000 after buying an additional 2,514 shares in the last quarter. 59.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.