Crossingbridge Advisors LLC Takes Position in AMREP Co. (NYSE:AXR)

Crossingbridge Advisors LLC acquired a new stake in shares of AMREP Co. (NYSE:AXR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 22,899 shares of the business services provider's stock, valued at approximately $719,000. Crossingbridge Advisors LLC owned about 0.43% of AMREP at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in AXR. JPMorgan Chase & Co. boosted its holdings in shares of AMREP by 26,700.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,876 shares of the business services provider's stock valued at $56,000 after acquiring an additional 1,869 shares during the last quarter. Barclays PLC purchased a new stake in AMREP in the fourth quarter valued at $76,000. State Street Corp acquired a new stake in AMREP during the 3rd quarter worth about $216,000. Hillsdale Investment Management Inc. purchased a new position in shares of AMREP during the 4th quarter valued at about $261,000. Finally, Ritholtz Wealth Management acquired a new position in shares of AMREP in the 4th quarter valued at about $384,000. 59.85% of the stock is owned by institutional investors and hedge funds.

AMREP Trading Up 0.7 %

AMREP stock traded up $0.16 during mid-day trading on Thursday, hitting $22.71. The company had a trading volume of 4,623 shares, compared to its average volume of 18,578. The company has a market capitalization of $120.07 million, a price-to-earnings ratio of 9.87 and a beta of 1.01. The company's fifty day moving average is $21.66 and its 200-day moving average is $28.27. AMREP Co. has a 12-month low of $15.88 and a 12-month high of $39.67.

AMREP (NYSE:AXR - Get Free Report) last announced its quarterly earnings results on Friday, March 7th. The business services provider reported $0.13 earnings per share (EPS) for the quarter. AMREP had a net margin of 19.52% and a return on equity of 10.31%. The firm had revenue of $7.52 million for the quarter.

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.