JPMorgan Chase & Co. Increases Stock Position in AMREP Co. (NYSE:AXR)

JPMorgan Chase & Co. raised its holdings in shares of AMREP Co. (NYSE:AXR) by 293.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,390 shares of the business services provider’s stock after purchasing an additional 5,514 shares during the period. JPMorgan Chase & Co.’s holdings in AMREP were worth $232,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Truffle Hound Capital LLC purchased a new position in AMREP during the fourth quarter valued at $2,041,000. Peapod Lane Capital LLC bought a new position in shares of AMREP in the fourth quarter worth about $1,411,000. AlphaCentric Advisors LLC purchased a new position in shares of AMREP during the 4th quarter valued at about $719,000. Ritholtz Wealth Management bought a new position in shares of AMREP during the 4th quarter valued at approximately $384,000. Finally, Hillsdale Investment Management Inc. purchased a new stake in AMREP in the 4th quarter worth approximately $261,000. Institutional investors own 59.85% of the company’s stock.

AMREP Price Performance

AXR opened at $22.76 on Friday. The company has a 50 day simple moving average of $21.55 and a two-hundred day simple moving average of $28.18. The firm has a market cap of $120.31 million, a P/E ratio of 9.89 and a beta of 1.11. AMREP Co. has a 1-year low of $15.88 and a 1-year high of $39.68.

AMREP (NYSE:AXR) last posted its quarterly earnings results on Friday, March 7th. The business services provider reported $0.13 EPS for the quarter. The company had revenue of $7.52 million for the quarter. AMREP had a return on equity of 10.31% and a net margin of 19.52%.

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.