AMREP Co. (NYSE:AXR) Short Interest Update

AMREP Co. (NYSE:AXR - Get Free Report) was the target of a large growth in short interest in January. As of January 15th, there was short interest totalling 22,300 shares, a growth of 5.2% from the December 31st total of 21,200 shares. Approximately 1.0% of the company's stock are short sold. Based on an average trading volume of 25,500 shares, the days-to-cover ratio is currently 0.9 days.

Insider Buying and Selling at AMREP

In other AMREP news, Director Robert Robotti sold 13,000 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $31.56, for a total transaction of $410,280.00. Following the completion of the sale, the director now directly owns 296,594 shares of the company's stock, valued at approximately $9,360,506.64. This represents a 4.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 37.60% of the company's stock.

Hedge Funds Weigh In On AMREP

Several hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets purchased a new stake in shares of AMREP in the 3rd quarter valued at $29,000. Geode Capital Management LLC boosted its holdings in AMREP by 5.4% in the third 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. Cerity Partners LLC grew its position in AMREP by 137.2% during the 3rd quarter. Cerity Partners LLC now owns 269,287 shares of the business services provider's stock worth $7,995,000 after purchasing an additional 155,755 shares during the period. State Street Corp purchased a new position in shares of AMREP during the 3rd quarter valued at about $216,000. Finally, JPMorgan Chase & Co. raised its stake in shares of 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 buying an additional 1,869 shares during the last quarter. 59.85% of the stock is owned by institutional investors and hedge funds.

AMREP Trading Down 0.3 %

Shares of AXR stock traded down $0.11 during trading hours on Thursday, reaching $31.17. 13,674 shares of the company's stock were exchanged, compared to its average volume of 21,478. AMREP has a 1 year low of $15.88 and a 1 year high of $39.67. The stock has a market cap of $164.77 million, a PE ratio of 13.55 and a beta of 0.95. The stock's fifty day moving average price is $32.23 and its two-hundred day moving average price is $28.99.

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

Wall Street Analysts Forecast Growth

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

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.