AMREP (NYSE:AXR) Shares Cross Above 200 Day Moving Average – Should You Sell?

AMREP Co. (NYSE:AXR) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $23.60 and traded as high as $36.21. AMREP shares last traded at $33.97, with a volume of 21,871 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of AMREP from a “hold” rating to a “buy” rating in a research report on Monday, September 16th.

AMREP Stock Performance

The company has a market cap of $171.40 million, a P/E ratio of 18.41 and a beta of 0.89. The business’s fifty day moving average is $28.86 and its two-hundred day moving average is $23.74.

AMREP (NYSE:AXR) last issued its quarterly earnings results on Friday, September 13th. The business services provider reported $0.76 earnings per share (EPS) for the quarter. AMREP had a net margin of 15.64% and a return on equity of 8.05%. The business had revenue of $19.09 million for the quarter.

Insider Buying and Selling

In other AMREP news, major shareholder James H. Dahl bought 3,000 shares of AMREP stock in a transaction dated Tuesday, September 24th. The stock was acquired at an average cost of $30.75 per share, for a total transaction of $92,250.00. Following the completion of the transaction, the insider now directly owns 430,774 shares of the company’s stock, valued at approximately $13,246,300.50. This 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 through this link. Over the last three months, insiders have bought 10,800 shares of company stock valued at $298,160. Corporate insiders own 37.60% of the company’s stock.

Institutional Investors Weigh In On AMREP

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cerity Partners LLC increased its position in shares of AMREP by 137.2% during the third quarter. Cerity Partners LLC now owns 269,287 shares of the business services provider’s stock valued at $7,995,000 after acquiring an additional 155,755 shares during the last quarter. State Street Corp purchased a new position in AMREP in the third quarter worth approximately $216,000. Empowered Funds LLC lifted its position in shares of AMREP by 8.0% during the 1st quarter. Empowered Funds LLC now owns 37,772 shares of the business services provider’s stock worth $878,000 after buying an additional 2,800 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of 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 buying an additional 2,514 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in shares of AMREP during the 3rd quarter worth approximately $29,000. 59.85% of the stock is currently owned by institutional investors and hedge funds.

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.