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

AMREP Co. (NYSE:AXR - Get Free Report) was the target of a significant 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. Approximately 0.8% of the company's stock are sold short. Based on an average daily trading volume, of 15,000 shares, the short-interest ratio is presently 1.4 days.

AMREP Price Performance

AMREP stock traded down $0.23 during midday trading on Monday, reaching $32.17. 55,866 shares of the company traded hands, compared to its average volume of 14,292. AMREP has a 12 month low of $15.88 and a 12 month high of $36.21. The business has a 50 day moving average of $29.08 and a two-hundred day moving average of $23.87. The firm has a market capitalization of $170.18 million, a price-to-earnings ratio of 17.99 and a beta of 0.89.

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

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other AMREP news, major shareholder James H. Dahl purchased 4,000 shares of the firm's stock in a transaction dated Tuesday, August 27th. The stock was purchased at an average price of $23.15 per share, for a total transaction of $92,600.00. Following the completion of the purchase, the insider now directly owns 427,774 shares of the company's stock, valued at $9,902,968.10. This trade represents a 0.94 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders bought 10,800 shares of company stock valued at $298,160. Insiders own 37.60% of the company's stock.

Hedge Funds Weigh In On AMREP

Institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets bought a new position in AMREP in the third quarter worth approximately $29,000. State Street Corp purchased a new position in shares of AMREP in the third quarter valued at about $216,000. Geode Capital Management LLC grew its position 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 worth $915,000 after purchasing an additional 1,589 shares in the last quarter. Empowered Funds LLC lifted its holdings in AMREP by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 42,796 shares of the business services provider's stock worth $1,271,000 after purchasing an additional 2,144 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in AMREP by 2.1% in the 2nd quarter. Renaissance Technologies LLC now owns 123,514 shares of the business services provider's stock worth $2,336,000 after purchasing an additional 2,514 shares during the period. Hedge funds and other institutional investors own 59.85% 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.