AMREP (NYSE:AXR) Stock Price Passes Above Two Hundred Day Moving Average - Here's Why

AMREP Co. (NYSE:AXR - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $28.66 and traded as high as $31.04. AMREP shares last traded at $31.01, with a volume of 9,231 shares.

Wall Street Analysts Forecast Growth

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

AMREP Trading Down 1.2 %

The company's 50 day moving average is $32.76 and its 200-day moving average is $28.68. The firm has a market capitalization of $162.22 million, a price-to-earnings ratio of 13.33 and a beta of 0.96.

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

Insider Transactions at AMREP

In other AMREP news, Director Robert Robotti sold 13,000 shares of the business's stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $31.56, for a total value of $410,280.00. Following the completion of the sale, the director now owns 296,594 shares of the company's stock, valued at $9,360,506.64. The trade was a 4.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 37.60% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets acquired a new stake in AMREP during the third quarter worth approximately $29,000. JPMorgan Chase & Co. grew its holdings 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 worth $56,000 after purchasing an additional 1,869 shares in the last quarter. State Street Corp acquired a new stake in shares of AMREP during the 3rd quarter worth $216,000. Ritholtz Wealth Management bought a new position in shares of AMREP in the fourth quarter worth $384,000. Finally, Geode Capital Management LLC raised its stake 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 in the last quarter. 59.85% of the stock is owned by institutional investors.

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.