Short Interest in AMREP Co. (NYSE:AXR) Drops By 7.7%

AMREP Co. (NYSE:AXR) saw a significant decrease in short interest in the month of November. As of November 30th, there was short interest totalling 19,300 shares, a decrease of 7.7% from the November 15th total of 20,900 shares. Approximately 0.7% of the company’s shares are short sold. Based on an average daily trading volume, of 18,900 shares, the days-to-cover ratio is presently 1.0 days.

Insider Transactions at AMREP

In other AMREP news, major shareholder James H. Dahl bought 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were bought at an average price of $30.75 per share, for a total transaction of $92,250.00. Following the transaction, the insider now directly owns 430,774 shares in the company, valued at approximately $13,246,300.50. This trade represents a 0.70 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders bought a total of 6,800 shares of company stock worth $205,560 over the last three months. 37.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On AMREP

A number of large investors have recently modified their holdings of the company. BNP Paribas Financial Markets acquired a new position in AMREP during the third quarter worth $29,000. State Street Corp acquired a new stake in shares of AMREP in the 3rd quarter worth about $216,000. Geode Capital Management LLC lifted its position in AMREP by 5.4% in the 3rd 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 in the last quarter. Empowered Funds LLC boosted its stake in AMREP by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 42,796 shares of the business services provider’s stock valued at $1,271,000 after purchasing an additional 2,144 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in AMREP by 2.1% during the 2nd quarter. Renaissance Technologies LLC now owns 123,514 shares of the business services provider’s stock worth $2,336,000 after purchasing an additional 2,514 shares in the last quarter. 59.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

AMREP Trading Up 2.8 %

Shares of NYSE AXR opened at $33.27 on Wednesday. The firm has a market capitalization of $175.90 million, a P/E ratio of 14.47 and a beta of 0.92. The firm’s 50-day moving average price is $32.86 and its 200-day moving average price is $26.26. AMREP has a 1-year low of $15.88 and a 1-year high of $39.67.

AMREP (NYSE:AXR) last posted 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%.

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.