AMREP (NYSE:AXR) Stock Price Passes Above 200 Day Moving Average – What’s Next?

AMREP Co. (NYSE:AXR)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $29.23 and traded as high as $30.93. AMREP shares last traded at $29.94, with a volume of 10,391 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of AMREP from a “buy” rating to a “hold” rating in a report on Thursday, December 12th.

AMREP Stock Performance

The business has a 50 day moving average of $31.93 and a two-hundred day moving average of $29.23. The firm has a market capitalization of $158.36 million, a price-to-earnings ratio of 13.02 and a beta of 0.95.

AMREP (NYSE:AXR) last issued its earnings results on Friday, December 13th. The business services provider reported $0.75 earnings per share (EPS) for the quarter. AMREP had a return on equity of 10.31% and a net margin of 19.52%.

Insider Activity

In related news, Director Robert Robotti sold 13,000 shares of AMREP stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $31.56, for a total transaction of $410,280.00. Following the transaction, the director now owns 296,594 shares of the company’s stock, valued at $9,360,506.64. The trade was a 4.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 37.60% of the company’s stock.

Institutional Investors Weigh In On AMREP

A number of institutional investors and hedge funds have recently bought and sold shares of AXR. BNP Paribas Financial Markets bought a new stake in shares of AMREP in the 3rd quarter worth $29,000. JPMorgan Chase & Co. grew its position in AMREP by 26,700.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,876 shares of the business services provider’s stock worth $56,000 after purchasing an additional 1,869 shares in the last quarter. State Street Corp purchased a new stake in AMREP in the 3rd quarter valued at about $216,000. Hillsdale Investment Management Inc. bought a new position in shares of AMREP during the 4th quarter worth approximately $261,000. Finally, Ritholtz Wealth Management purchased a new position in shares of AMREP in the 4th quarter worth approximately $384,000. 59.85% of the stock is owned by hedge funds and other institutional investors.

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.