AMREP (NYSE:AXR) Stock Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

AMREP Co. (NYSE:AXR - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $23.60 and traded as high as $36.21. AMREP shares last traded at $33.97, with a volume of 21,871 shares traded.

Wall Street Analysts Forecast Growth

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

AMREP Stock Performance

The firm's fifty day simple moving average is $28.65 and its 200-day simple moving average is $23.67. The stock has a market cap of $176.16 million, a P/E ratio of 19.47 and a beta of 0.89.

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

Insider Activity

In related news, major shareholder James H. Dahl acquired 4,000 shares of the stock in a transaction dated Tuesday, August 27th. The stock was bought at an average price of $23.15 per share, for a total transaction of $92,600.00. Following the purchase, the insider now directly owns 427,774 shares of the company's stock, valued at $9,902,968.10. The trade was a 0.94 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders purchased 10,800 shares of company stock worth $298,160 in the last quarter. 37.60% of the stock is owned by corporate insiders.

Institutional Trading of AMREP

Hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets acquired a new stake in AMREP in the 3rd quarter valued at $29,000. Empowered Funds LLC grew its position in AMREP by 8.0% in the 1st quarter. Empowered Funds LLC now owns 37,772 shares of the business services provider's stock valued at $878,000 after purchasing an additional 2,800 shares during the period. Renaissance Technologies LLC grew its position in AMREP by 2.1% in the 2nd quarter. Renaissance Technologies LLC now owns 123,514 shares of the business services provider's stock valued at $2,336,000 after purchasing an additional 2,514 shares during the period. Finally, Cerity Partners LLC grew its position in AMREP by 137.2% in the 3rd quarter. Cerity Partners LLC now owns 269,287 shares of the business services provider's stock valued at $7,995,000 after purchasing an additional 155,755 shares during the period. 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.