AMREP Co. (NYSE:AXR) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC boosted its holdings in AMREP Co. (NYSE:AXR - Free Report) by 137.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 269,287 shares of the business services provider's stock after acquiring an additional 155,755 shares during the quarter. Cerity Partners LLC owned about 5.09% of AMREP worth $7,995,000 as of its most recent filing with the SEC.

Separately, Empowered Funds LLC boosted its stake in shares of AMREP by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 42,796 shares of the business services provider's stock worth $1,271,000 after acquiring an additional 2,144 shares in the last quarter. 59.85% of the stock is owned by institutional investors and hedge funds.

AMREP Trading Up 1.4 %

Shares of NYSE:AXR traded up $0.49 during midday trading on Thursday, hitting $35.40. 8,761 shares of the stock were exchanged, compared to its average volume of 14,439. AMREP Co. has a twelve month low of $15.88 and a twelve month high of $39.02. The company has a 50 day moving average price of $31.18 and a 200-day moving average price of $24.77. The stock has a market cap of $187.27 million, a P/E ratio of 20.11 and a beta of 0.89.

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised AMREP from a "hold" rating to a "buy" rating in a research note on Monday, September 16th.

Insider Activity at AMREP

In other news, major shareholder James H. Dahl bought 1,800 shares of AMREP stock in a transaction on Friday, October 4th. The shares were bought at an average cost of $29.95 per share, for a total transaction of $53,910.00. Following the acquisition, the insider now owns 434,574 shares in the company, valued at approximately $13,015,491.30. This trade represents a 0.42 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have purchased 6,800 shares of company stock valued at $205,560. 37.60% of the stock is owned by corporate insiders.

AMREP 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.