AMREP Co. (NYSE:AXR) Short Interest Up 16.4% in October

AMREP Co. (NYSE:AXR - Get Free Report) was the recipient of a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 22,700 shares, a growth of 16.4% from the September 30th total of 19,500 shares. Approximately 0.9% of the company's shares are short sold. Based on an average daily volume of 18,000 shares, the short-interest ratio is currently 1.3 days.

Insider Buying and Selling

In other news, major shareholder James H. Dahl bought 5,000 shares of the stock in a transaction dated Thursday, August 8th. The stock was bought at an average cost of $23.48 per share, with a total value of $117,400.00. Following the purchase, the insider now owns 420,642 shares of the company's stock, valued at approximately $9,876,674.16. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In other AMREP news, major shareholder James H. Dahl purchased 5,000 shares of the company's 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 completion of the purchase, the insider now directly owns 420,642 shares in the company, valued at approximately $9,876,674.16. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder James H. Dahl purchased 4,000 shares of AMREP 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 completion of the transaction, the insider now directly owns 427,774 shares in the company, valued at $9,902,968.10. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 25,800 shares of company stock worth $671,560 in the last quarter. Insiders own 37.00% of the company's stock.

Hedge Funds Weigh In On AMREP

An institutional investor recently raised its position in AMREP stock. Empowered Funds LLC boosted its position in AMREP Co. (NYSE:AXR - Free Report) by 8.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,772 shares of the business services provider's stock after buying an additional 2,800 shares during the quarter. Empowered Funds LLC owned approximately 0.72% of AMREP worth $878,000 as of its most recent filing with the SEC. 59.85% of the stock is owned by institutional investors and hedge funds.

AMREP Price Performance

Shares of NYSE AXR traded down $0.52 during midday trading on Tuesday, reaching $29.48. 18,441 shares of the stock were exchanged, compared to its average volume of 13,857. AMREP has a 12 month low of $15.38 and a 12 month high of $31.26. The company has a market capitalization of $155.39 million, a price-to-earnings ratio of 55.56 and a beta of 0.89. The business has a 50-day simple moving average of $26.43 and a two-hundred day simple moving average of $22.81.

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

Analyst Ratings Changes

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

About AMREP

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.