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

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

Insider Activity

In other news, major shareholder James H. Dahl bought 2,000 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were acquired at an average cost of $29.70 per share, for a total transaction of $59,400.00. Following the completion of the acquisition, the insider now owns 432,774 shares in the company, valued at approximately $12,853,387.80. This represents a 0.46 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders purchased 6,800 shares of company stock worth $205,560 in the last quarter. Corporate insiders own 37.60% of the company’s stock.

Hedge Funds Weigh In On AMREP

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets acquired a new position in shares of AMREP during the third quarter valued at about $29,000. State Street Corp purchased a new stake in AMREP in the 3rd quarter valued at $216,000. Geode Capital Management LLC increased its position in shares of AMREP by 5.4% during the third 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 during the last quarter. Empowered Funds LLC grew its stake in AMREP by 5.3% in 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 period. Finally, Renaissance Technologies LLC boosted its holdings in shares of AMREP by 2.1% in the 2nd quarter. Renaissance Technologies LLC now owns 123,514 shares of the business services provider’s stock worth $2,336,000 after buying an additional 2,514 shares during the last quarter. Institutional investors own 59.85% of the company’s stock.

AMREP Stock Performance

Shares of AXR traded up $0.92 during mid-day trading on Tuesday, reaching $33.27. 53,761 shares of the company were exchanged, compared to its average volume of 15,389. The business has a 50 day simple moving average of $32.79 and a two-hundred day simple moving average of $26.18. The stock has a market capitalization of $175.90 million, a PE ratio of 14.07 and a beta of 0.92. AMREP has a 52 week low of $15.88 and a 52 week high of $39.67.

AMREP (NYSE:AXR) last issued 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%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut AMREP from a “buy” rating to a “hold” rating in a research report 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.