AMREP (NYSE:AXR) Share Price Passes Above 200 Day Moving Average - Here's Why

Key Points

• AMREP shares passed above its 200-day moving average (200‑day MA $23.03), trading as high as $28.11 and last at $26.8840 on Thursday.
• Analysts hold an average Hold rating on AXR after recent notes (Weiss reiterated Hold and Freedom Capital cut the stock from Strong‑Buy to Hold).
• Insiders have been buying (major shareholder James H. Dahl bought 2,060 shares at $27.92) and insiders own 37.20% while institutions/hedge funds hold ~59.85%; the company also slightly beat quarterly EPS and revenue estimates ($0.58 vs $0.57 EPS, $14.57M revenue vs $14.03M expected).

AMREP Corporation (NYSE:AXR - Get Free Report) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $23.03 and traded as high as $28.11. AMREP shares last traded at $26.8840, with a volume of 15,747 shares traded.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AXR. Weiss Ratings restated a "hold (c)" rating on shares of AMREP in a research report on Monday, December 29th. Freedom Capital cut AMREP from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 7th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, AMREP presently has an average rating of "Hold".

AMREP Stock Down 2.6%

The stock has a market cap of $142.62 million, a P/E ratio of 11.20 and a beta of 1.23. The company's 50 day moving average price is $26.07 and its two-hundred day moving average price is $23.03.

AMREP (NYSE:AXR - Get Free Report) last released its quarterly earnings data on Thursday, March 12th. The business services provider reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.01. The firm had revenue of $14.57 million during the quarter, compared to the consensus estimate of $14.03 million. AMREP had a return on equity of 9.58% and a net margin of 24.40%.

Insider Buying and Selling at AMREP

In other news, major shareholder James H. Dahl acquired 2,060 shares of AMREP stock in a transaction that occurred on Tuesday, March 31st. The stock was purchased at an average price of $27.92 per share, for a total transaction of $57,515.20. Following the purchase, the insider directly owned 476,458 shares in the company, valued at $13,302,707.36. The trade was a 0.43% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. In the last quarter, insiders have bought 29,742 shares of company stock valued at $731,280. 37.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AMREP

A number of large investors have recently made changes to their positions in AXR. Empowered Funds LLC increased its holdings in AMREP by 7.4% in the 1st quarter. Empowered Funds LLC now owns 48,281 shares of the business services provider's stock worth $968,000 after buying an additional 3,344 shares during the period. Jane Street Group LLC boosted its holdings in AMREP by 42.1% in the first quarter. Jane Street Group LLC now owns 10,394 shares of the business services provider's stock valued at $208,000 after purchasing an additional 3,077 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in AMREP during the 1st quarter worth about $46,000. Geode Capital Management LLC grew its position in AMREP by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 33,566 shares of the business services provider's stock worth $703,000 after purchasing an additional 574 shares during the period. Finally, Truffle Hound Capital LLC raised its stake in shares of AMREP by 31.0% during the 3rd quarter. Truffle Hound Capital LLC now owns 150,000 shares of the business services provider's stock valued at $3,588,000 after buying an additional 35,476 shares during the last quarter. 59.85% of the stock is owned by hedge funds and other institutional investors.

AMREP Company Profile

AMREP Corporation NYSE: AXR is a Denver-area based company specializing in land development and natural resource management. Since its founding in 1961, AMREP has built a diversified platform that spans real estate operations and resource extraction, serving both individual and institutional clients in the western United States.

Through its real estate segment, AMREP Southwest Inc acquires, develops and markets residential lots in planned communities across New Mexico and Colorado. Notable projects include the Tanoan Country Club and adjacent residential neighborhoods near Albuquerque, where the company employs a direct-to-consumer marketing model to reach out-of-state and local buyers.

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