Insider Buying: AMREP (NYSE:AXR) Director Acquires 1,765 Shares of Stock

Key Points

• AMREP director Timothy Mcnaney purchased 1,765 shares on April 21 at an average price of $28.17, a $49,720.05 insider buy disclosed in an SEC filing.
• The company beat Q1 estimates with EPS of $0.58 (vs. $0.57 consensus) and revenue of $14.57 million, while the stock trades near $27.98 with a market cap of about $148.6 million and a P/E of 11.66.
• Institutional investors own roughly 59.85% of the shares, and analyst coverage is lukewarm with a MarketBeat consensus of "Hold" after recent rating changes.

AMREP Corporation (NYSE:AXR - Get Free Report) Director Timothy Mcnaney purchased 1,765 shares of AMREP stock in a transaction on Tuesday, April 21st. The shares were acquired at an average price of $28.17 per share, for a total transaction of $49,720.05. Following the completion of the transaction, the director directly owned 1,765 shares of the company's stock, valued at approximately $49,720.05. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

AMREP Price Performance

NYSE AXR traded down $0.04 on Wednesday, reaching $27.98. 2,448 shares of the company's stock traded hands, compared to its average volume of 8,639. AMREP Corporation has a 12 month low of $17.61 and a 12 month high of $29.00. The stock has a 50-day simple moving average of $26.42 and a 200 day simple moving average of $23.09. The stock has a market cap of $148.57 million, a PE ratio of 11.66 and a beta of 1.23.

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

Institutional Investors Weigh In On AMREP

Institutional investors and hedge funds have recently bought and sold shares of the business. NBC Securities Inc. lifted its holdings in AMREP by 65.0% in the 4th quarter. NBC Securities Inc. now owns 1,650 shares of the business services provider's stock worth $31,000 after buying an additional 650 shares during the period. Acadian Asset Management LLC purchased a new stake in AMREP in the 1st quarter worth approximately $46,000. Barclays PLC lifted its holdings in AMREP by 781.7% in the 4th quarter. Barclays PLC now owns 2,795 shares of the business services provider's stock worth $53,000 after buying an additional 2,478 shares during the period. Jane Street Group LLC lifted its holdings in AMREP by 42.1% in the 1st quarter. Jane Street Group LLC now owns 10,394 shares of the business services provider's stock worth $208,000 after buying an additional 3,077 shares during the period. Finally, Citadel Advisors LLC purchased a new stake in AMREP in the 3rd quarter worth approximately $453,000. Hedge funds and other institutional investors own 59.85% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wall Street Zen upgraded AMREP to a "hold" rating in a research report on Saturday. Freedom Capital lowered AMREP from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 7th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of AMREP in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of "Hold".

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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