Cerity Partners LLC Raises Stock Position in AMREP Corporation (NYSE:AXR)

Cerity Partners LLC increased its position in shares of AMREP Corporation (NYSE:AXR - Free Report) by 8.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 171,124 shares of the business services provider's stock after buying an additional 12,767 shares during the period. Cerity Partners LLC owned 3.24% of AMREP worth $3,431,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC acquired a new position in AMREP during the fourth quarter worth $76,000. Lazard Asset Management LLC acquired a new position in AMREP during the fourth quarter worth $137,000. Jane Street Group LLC acquired a new position in AMREP during the fourth quarter worth $230,000. JPMorgan Chase & Co. raised 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 worth $232,000 after acquiring an additional 5,514 shares during the period. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of AMREP in the fourth quarter valued at about $261,000. 59.85% of the stock is owned by hedge funds and other institutional investors.

AMREP Stock Performance

Shares of NYSE AXR traded down $0.55 during mid-day trading on Friday, reaching $21.51. The company's stock had a trading volume of 2,916 shares, compared to its average volume of 19,027. AMREP Corporation has a 1-year low of $17.60 and a 1-year high of $39.68. The stock has a market capitalization of $113.79 million, a P/E ratio of 8.93 and a beta of 1.08. The stock has a 50-day moving average of $21.86 and a two-hundred day moving average of $24.01.

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.