AMREP Corporation $AXR is Robotti Robert's 10th Largest Position

Key Points

• Robotti Robert increased its stake in AMREP Corporation by 4.6%, owning 524,407 shares worth approximately $10.5 million, making it the 10th largest position in their portfolio.
• Other institutional investors like Cerity Partners and Millennium Management have also increased their positions in AMREP, with hedge funds collectively holding 59.85% of the company's stock.
• AMREP Corporation reported a return on equity of 10.11% and a net margin of 25.59%, with earnings per share of $0.73 for the last quarter.

Robotti Robert lifted its holdings in AMREP Corporation (NYSE:AXR - Free Report) by 4.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 524,407 shares of the business services provider's stock after purchasing an additional 22,990 shares during the quarter. AMREP accounts for about 2.1% of Robotti Robert's investment portfolio, making the stock its 10th biggest holding. Robotti Robert owned 9.92% of AMREP worth $10,514,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of AXR. Barclays PLC purchased a new position in shares of AMREP in the fourth quarter worth $76,000. Lazard Asset Management LLC purchased a new stake in AMREP during the fourth quarter valued at $137,000. Jane Street Group LLC purchased a new stake in AMREP during the fourth quarter valued at $230,000. JPMorgan Chase & Co. increased its position in AMREP by 293.9% during the fourth quarter. JPMorgan Chase & Co. now owns 7,390 shares of the business services provider's stock valued at $232,000 after acquiring an additional 5,514 shares during the last quarter. Finally, 683 Capital Management LLC purchased a new stake in AMREP during the fourth quarter valued at $312,000. Hedge funds and other institutional investors own 59.85% of the company's stock.

AMREP Price Performance

AMREP stock traded up $0.5550 during mid-day trading on Tuesday, reaching $22.0450. 2,262 shares of the stock traded hands, compared to its average volume of 15,350. The stock has a market capitalization of $117.06 million, a PE ratio of 9.30 and a beta of 1.11. AMREP Corporation has a 12-month low of $17.60 and a 12-month high of $39.67. The business's 50-day moving average is $22.28 and its 200-day moving average is $22.73.

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

AMREP Company Profile

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.