Short Interest in AMREP Co. (NYSE:AXR) Declines By 6.2%

AMREP Co. (NYSE:AXR) was the recipient of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 21,300 shares, a decline of 6.2% from the October 15th total of 22,700 shares. Currently, 0.8% of the company’s shares are sold short. Based on an average daily volume of 15,000 shares, the days-to-cover ratio is presently 1.4 days.

AMREP Stock Up 13.7 %

AXR opened at $36.58 on Wednesday. The business has a fifty day moving average of $29.28 and a 200 day moving average of $23.95. AMREP has a 52-week low of $15.88 and a 52-week high of $36.61. The stock has a market cap of $193.51 million, a P/E ratio of 19.01 and a beta of 0.89.

AMREP (NYSE:AXR) last posted its quarterly earnings results on Friday, September 13th. The business services provider reported $0.76 EPS for the quarter. AMREP had a net margin of 15.64% and a return on equity of 8.05%. The firm had revenue of $19.09 million for the quarter.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded AMREP from a “hold” rating to a “buy” rating in a research report on Monday, September 16th.

Insider Activity

In other news, major shareholder James H. Dahl bought 3,000 shares of the stock in a transaction dated Tuesday, September 24th. The stock was purchased at an average price of $30.75 per share, for a total transaction of $92,250.00. Following the acquisition, the insider now owns 430,774 shares of the company’s stock, valued at $13,246,300.50. The trade was a 0.70 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders have purchased 10,800 shares of company stock valued at $298,160. 37.60% of the stock is currently owned by insiders.

Institutional Trading of AMREP

Several institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets purchased a new position in AMREP during the 3rd quarter worth $29,000. State Street Corp purchased a new position in shares of AMREP during the third quarter valued at $216,000. Geode Capital Management LLC increased its stake in shares of AMREP by 5.4% during the third quarter. Geode Capital Management LLC now owns 30,825 shares of the business services provider’s stock valued at $915,000 after buying an additional 1,589 shares during the period. Empowered Funds LLC raised its holdings in shares of AMREP by 5.3% in the third quarter. Empowered Funds LLC now owns 42,796 shares of the business services provider’s stock valued at $1,271,000 after acquiring an additional 2,144 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in AMREP by 2.1% in the second quarter. Renaissance Technologies LLC now owns 123,514 shares of the business services provider’s stock worth $2,336,000 after acquiring an additional 2,514 shares during the period. Institutional investors own 59.85% of the company’s stock.

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.