Short Interest in AMREP Co. (NYSE:AXR) Increases By 9.8%

AMREP Co. (NYSE:AXR - Get Free Report) was the target of a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 21,200 shares, an increase of 9.8% from the November 30th total of 19,300 shares. Based on an average daily trading volume, of 23,400 shares, the short-interest ratio is currently 0.9 days. Currently, 0.8% of the company's stock are short sold.

Wall Street Analysts Forecast Growth

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

AMREP Price Performance

AXR traded down $0.41 during trading on Tuesday, hitting $31.40. The stock had a trading volume of 21,012 shares, compared to its average volume of 16,237. The firm has a market cap of $166.01 million, a price-to-earnings ratio of 17.84 and a beta of 0.92. The company has a 50 day moving average price of $33.27 and a 200-day moving average price of $26.98. AMREP has a one year low of $15.88 and a one year high of $39.67.

AMREP (NYSE:AXR - Get Free Report) last announced 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 15.64% and a return on equity of 8.05%.

Insider Buying and Selling

In other AMREP news, major shareholder James H. Dahl purchased 1,800 shares of the company's stock in a transaction that occurred on Friday, October 4th. The shares were acquired at an average price of $29.95 per share, for a total transaction of $53,910.00. Following the purchase, the insider now owns 434,574 shares in the company, valued at approximately $13,015,491.30. The trade was a 0.42 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert Robotti sold 13,000 shares of AMREP stock in a transaction on Friday, December 20th. The stock was sold at an average price of $31.56, for a total transaction of $410,280.00. Following the transaction, the director now directly owns 296,594 shares of the company's stock, valued at approximately $9,360,506.64. This trade represents a 4.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 37.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in AXR. BNP Paribas Financial Markets acquired a new stake in AMREP during the third quarter worth approximately $29,000. Geode Capital Management LLC grew its holdings in shares of AMREP by 5.4% during the 3rd quarter. Geode Capital Management LLC now owns 30,825 shares of the business services provider's stock worth $915,000 after purchasing an additional 1,589 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of AMREP by 26,700.0% in the third 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 during the period. Empowered Funds LLC raised its stake in AMREP by 5.3% in the third quarter. Empowered Funds LLC now owns 42,796 shares of the business services provider's stock valued at $1,271,000 after purchasing an additional 2,144 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in AMREP by 2.1% in the second 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 in the last quarter. Institutional investors and hedge funds own 59.85% of the company's stock.

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.