AMREP (NYSE:AXR) Share Price Passes Above 200 Day Moving Average - Here's What Happened

AMREP Co. (NYSE:AXR - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $23.19 and traded as high as $31.52. AMREP shares last traded at $31.22, with a volume of 37,853 shares trading hands.

Analyst Ratings Changes

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 company has a market cap of $167.69 million, a price-to-earnings ratio of 18.01 and a beta of 0.89. The business's 50 day simple moving average is $27.53 and its 200-day simple moving average is $23.25.

AMREP (NYSE:AXR - Get Free Report) last released its quarterly earnings data 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 business had revenue of $19.09 million during the quarter.

Insiders Place Their Bets

In other news, major shareholder James H. Dahl acquired 4,000 shares of AMREP stock in a transaction on Tuesday, August 27th. The shares were purchased at an average price of $23.15 per share, with a total value of $92,600.00. Following the acquisition, the insider now owns 427,774 shares in the company, valued at $9,902,968.10. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder James H. Dahl purchased 3,000 shares of the business's stock in a transaction that occurred on Tuesday, September 24th. The shares were acquired at an average cost of $30.75 per share, for a total transaction of $92,250.00. Following the transaction, the insider now directly owns 430,774 shares of the company's stock, valued at approximately $13,246,300.50. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder James H. Dahl bought 4,000 shares of the firm's stock in a transaction on Tuesday, August 27th. The stock was acquired at an average cost of $23.15 per share, with a total value of $92,600.00. Following the completion of the purchase, the insider now owns 427,774 shares of the company's stock, valued at approximately $9,902,968.10. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 15,800 shares of company stock valued at $415,560. 37.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AMREP

An institutional investor recently raised its position in AMREP stock. Empowered Funds LLC boosted its holdings in AMREP Co. (NYSE:AXR - Free Report) by 8.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,772 shares of the business services provider's stock after acquiring an additional 2,800 shares during the period. Empowered Funds LLC owned 0.72% of AMREP worth $878,000 as of its most recent filing with the Securities and Exchange Commission. 59.85% of the stock is owned by institutional investors and hedge funds.

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.