AlphaCentric Advisors LLC Makes New $719,000 Investment in AMREP Co. (NYSE:AXR)

AlphaCentric Advisors LLC bought a new position in shares of AMREP Co. (NYSE:AXR - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 22,899 shares of the business services provider's stock, valued at approximately $719,000. AlphaCentric Advisors LLC owned 0.43% of AMREP as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets acquired a new stake in shares of AMREP in the third quarter worth $29,000. JPMorgan Chase & Co. grew its position in shares of AMREP by 26,700.0% in the third quarter. JPMorgan Chase & Co. now owns 1,876 shares of the business services provider's stock valued at $56,000 after purchasing an additional 1,869 shares during the last quarter. State Street Corp bought a new position in shares of AMREP in the third quarter worth about $216,000. Ritholtz Wealth Management acquired a new position in shares of AMREP during the 4th quarter worth about $384,000. Finally, Geode Capital Management LLC lifted its position in shares of AMREP by 5.4% during the 3rd quarter. Geode Capital Management LLC now owns 30,825 shares of the business services provider's stock worth $915,000 after purchasing an additional 1,589 shares during the last quarter. Institutional investors own 59.85% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded AMREP from a "buy" rating to a "hold" rating in a research report on Thursday, December 12th.

AMREP Price Performance

AXR stock traded down $0.29 on Thursday, reaching $27.96. 9,300 shares of the company were exchanged, compared to its average volume of 18,858. The firm has a market capitalization of $147.91 million, a PE ratio of 12.16 and a beta of 0.95. AMREP Co. has a 12 month low of $15.88 and a 12 month high of $39.67. The stock's fifty day moving average price is $30.72 and its 200 day moving average price is $29.43.

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

Insider Activity at AMREP

In other news, Director Robert Robotti sold 13,000 shares of the business's 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 sale, the director now directly owns 296,594 shares in the company, valued at approximately $9,360,506.64. The trade was a 4.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 37.60% of the company's stock.

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.