Short Interest in AMREP Co. (NYSE:AXR) Declines By 9.7%

AMREP Co. (NYSE:AXR - Get Free Report) saw a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 19,500 shares, a decline of 9.7% from the September 15th total of 21,600 shares. Based on an average trading volume of 21,600 shares, the days-to-cover ratio is presently 0.9 days. Approximately 0.8% of the shares of the company are short sold.

AMREP Trading Down 0.4 %

NYSE:AXR traded down $0.12 during trading hours on Thursday, hitting $27.90. 5,960 shares of the stock were exchanged, compared to its average volume of 13,490. AMREP has a 52-week low of $15.38 and a 52-week high of $31.26. The firm's fifty day moving average price is $25.37 and its 200 day moving average price is $22.42. The company has a market cap of $147.06 million, a P/E ratio of 50.37 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%.

Insiders Place Their Bets

In related news, major shareholder James H. Dahl acquired 5,000 shares of the firm's stock in a transaction dated Thursday, August 8th. The stock was acquired at an average price of $23.48 per share, with a total value of $117,400.00. Following the acquisition, the insider now directly owns 420,642 shares in the company, valued at $9,876,674.16. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other AMREP news, major shareholder James H. Dahl purchased 3,000 shares of AMREP stock in a transaction that occurred on Tuesday, September 24th. The stock was bought at an average price of $30.75 per share, with a total value of $92,250.00. Following the acquisition, the insider now owns 430,774 shares of the company's stock, valued at $13,246,300.50. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder James H. Dahl purchased 5,000 shares of AMREP stock in a transaction that occurred on Thursday, August 8th. The stock was acquired at an average cost of $23.48 per share, with a total value of $117,400.00. Following the acquisition, the insider now directly owns 420,642 shares in the company, valued at $9,876,674.16. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 25,800 shares of company stock valued at $671,560. 37.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On AMREP

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

Wall Street Analyst Weigh In

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

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.