AMREP Co. (NYSE:AXR) Short Interest Update

AMREP Co. (NYSE:AXR - Get Free Report) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 26,600 shares, an increase of 20.4% from the February 28th total of 22,100 shares. Currently, 1.1% of the shares of the stock are sold short. Based on an average trading volume of 22,200 shares, the days-to-cover ratio is currently 1.2 days.

Analyst Upgrades and Downgrades

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

AMREP Trading Down 1.3 %

Shares of NYSE:AXR traded down $0.24 during trading on Monday, reaching $18.41. 18,209 shares of the company traded hands, compared to its average volume of 19,522. AMREP has a 52-week low of $15.88 and a 52-week high of $39.68. The firm has a market capitalization of $97.34 million, a price-to-earnings ratio of 8.00 and a beta of 1.01. The business's fifty day moving average is $25.01 and its 200-day moving average is $29.37.

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

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Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets bought a new position in shares of AMREP during the third quarter valued at $29,000. Geode Capital Management LLC grew its position in AMREP by 5.4% during the 3rd quarter. Geode Capital Management LLC now owns 30,825 shares of the business services provider's stock valued at $915,000 after purchasing an additional 1,589 shares during the last quarter. JPMorgan Chase & Co. increased its stake in AMREP by 26,700.0% during the 3rd 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 in the last quarter. Empowered Funds LLC raised its holdings in AMREP by 5.0% in the fourth quarter. Empowered Funds LLC now owns 44,937 shares of the business services provider's stock worth $1,411,000 after buying an additional 2,141 shares during the last quarter. Finally, State Street Corp bought a new position in shares of AMREP in the third quarter worth approximately $216,000. Hedge funds and other 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.