AMREP (NYSE:AXR) Stock Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• AMREP Corporation's stock price has surpassed its 200-day moving average, indicating potential bullish momentum, with a recent trading high of $22.91.
• The company reported $0.73 EPS in its last quarterly earnings, alongside a net margin of 25.59% and revenue of $11.18 million.
• Institutional investors have increased their holdings in AMREP significantly, with Gate City Capital Management boosting its position by 271.0% in the second quarter.

AMREP Corporation (NYSE:AXR - Get Free Report)'s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $22.43 and traded as high as $22.91. AMREP shares last traded at $22.61, with a volume of 8,470 shares traded.

AMREP Price Performance

The firm's 50-day moving average price is $22.37 and its 200-day moving average price is $22.43. The company has a market cap of $120.03 million, a price-to-earnings ratio of 9.54 and a beta of 1.11.

AMREP (NYSE:AXR - Get Free Report) last released its quarterly earnings data on Friday, July 25th. The business services provider reported $0.73 earnings per share (EPS) for the quarter. AMREP had a net margin of 25.59% and a return on equity of 10.11%. The company had revenue of $11.18 million during the quarter.

Institutional Investors Weigh In On AMREP

Several large investors have recently made changes to their positions in the business. Gate City Capital Management LLC increased its position in shares of AMREP by 271.0% in the second quarter. Gate City Capital Management LLC now owns 103,583 shares of the business services provider's stock worth $2,168,000 after acquiring an additional 75,661 shares in the last quarter. Crossingbridge Advisors LLC grew its holdings in AMREP by 17.6% during the 2nd quarter. Crossingbridge Advisors LLC now owns 50,000 shares of the business services provider's stock valued at $1,046,000 after purchasing an additional 7,500 shares in the last quarter. Truffle Hound Capital LLC grew its holdings in AMREP by 129.0% during the 2nd quarter. Truffle Hound Capital LLC now owns 114,524 shares of the business services provider's stock valued at $2,397,000 after purchasing an additional 64,524 shares in the last quarter. Geode Capital Management LLC grew its holdings 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 valued at $703,000 after purchasing an additional 574 shares in the last quarter. Finally, Ritholtz Wealth Management grew its holdings in AMREP by 42.1% during the 2nd quarter. Ritholtz Wealth Management now owns 17,375 shares of the business services provider's stock valued at $364,000 after purchasing an additional 5,144 shares in the last quarter. Institutional investors and hedge funds own 59.85% of the company's stock.

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.

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