Insider Buying: AMREP Co. (NYSE:AXR) Major Shareholder Acquires $57,512.00 in Stock

AMREP Co. (NYSE:AXR) major shareholder James H. Dahl acquired 2,800 shares of AMREP stock in a transaction dated Monday, March 25th. The shares were acquired at an average cost of $20.54 per share, with a total value of $57,512.00. Following the completion of the acquisition, the insider now directly owns 346,365 shares in the company, valued at approximately $7,114,337.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

AMREP Stock Up 3.0 %

Shares of AXR stock opened at $22.92 on Thursday. AMREP Co. has a 12-month low of $13.46 and a 12-month high of $24.36. The company has a market capitalization of $120.79 million, a P/E ratio of 42.45 and a beta of 0.98. The firm has a 50-day moving average price of $21.72 and a 200 day moving average price of $19.50.

Hedge Funds Weigh In On AMREP

Several institutional investors have recently added to or reduced their stakes in the company. Gate City Capital Management LLC bought a new position in AMREP during the 4th quarter valued at about $9,505,000. Vanguard Group Inc. raised its stake in shares of AMREP by 17.4% in the third quarter. Vanguard Group Inc. now owns 174,387 shares of the business services provider’s stock worth $1,967,000 after acquiring an additional 25,857 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of AMREP by 3.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 172,162 shares of the business services provider’s stock worth $3,782,000 after acquiring an additional 5,539 shares during the last quarter. Bridgeway Capital Management LLC raised its stake in shares of AMREP by 2.1% in the fourth quarter. Bridgeway Capital Management LLC now owns 150,872 shares of the business services provider’s stock worth $3,315,000 after acquiring an additional 3,072 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of AMREP by 3.5% in the first quarter. Renaissance Technologies LLC now owns 119,800 shares of the business services provider’s stock worth $1,676,000 after acquiring an additional 4,000 shares during the last quarter. 59.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of AMREP from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th.

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.