AMREP (NYSE:AXR) Stock Price Passes Above 200 Day Moving Average - Should You Sell?

Key Points

• AMREP shares moved above their 200-day moving average during Thursday trading, with the stock reaching as high as $25.34 before last trading at $25.04.
• Analyst sentiment remains mixed but cautious, with the consensus rating at Hold after recent changes from Freedom Capital, Wall Street Zen, and Weiss Ratings.
• Insider and institutional buying has been notable, including recent purchases by major shareholder James H. Dahl and Director Timothy S. Mcnaney, while hedge funds own nearly 60% of the company.

AMREP Corporation (NYSE:AXR - Get Free Report)'s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $24.67 and traded as high as $25.34. AMREP shares last traded at $25.04, with a volume of 5,596 shares traded.

Analysts Set New Price Targets

A number of brokerages have recently commented on AXR. Freedom Capital cut AMREP from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 7th. Wall Street Zen raised AMREP from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Finally, Weiss Ratings raised AMREP from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, May 26th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of "Hold".

AMREP Trading Down 1.6%

The company's fifty day simple moving average is $25.76 and its 200 day simple moving average is $24.67. The stock has a market capitalization of $132.96 million, a P/E ratio of 10.43 and a beta of 1.12.

Insider Buying and Selling at AMREP

In other AMREP news, major shareholder James H. Dahl bought 3,075 shares of AMREP stock in a transaction that occurred on Monday, June 22nd. The stock was acquired at an average cost of $25.58 per share, for a total transaction of $78,658.50. Following the completion of the transaction, the insider directly owned 501,708 shares in the company, valued at $12,833,690.64. This represents a 0.62% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Timothy S. Mcnaney bought 1,765 shares of the firm's stock in a transaction on Tuesday, April 21st. The stock was acquired at an average price of $28.17 per share, for a total transaction of $49,720.05. Following the completion of the purchase, the director directly owned 1,765 shares in the company, valued at approximately $49,720.05. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 25,515 shares of company stock valued at $675,398 in the last three months. 37.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its stake in AMREP by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 195,226 shares of the business services provider's stock valued at $3,670,000 after purchasing an additional 527 shares in the last quarter. Geode Capital Management LLC lifted its position in AMREP by 1.7% during the second 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 during the last quarter. NBC Securities Inc. lifted its position in AMREP by 65.0% during the fourth quarter. NBC Securities Inc. now owns 1,650 shares of the business services provider's stock valued at $31,000 after purchasing an additional 650 shares during the last quarter. Cerity Partners LLC grew its stake in AMREP by 0.4% in the 4th quarter. Cerity Partners LLC now owns 169,022 shares of the business services provider's stock worth $3,178,000 after buying an additional 665 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in AMREP in the 1st quarter worth approximately $46,000. Hedge funds and other institutional investors own 59.85% of the company's stock.

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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