AMREP (NYSE:AXR) Downgraded to “Sell” at StockNews.com

StockNews.com lowered shares of AMREP (NYSE:AXR) from a hold rating to a sell rating in a research note published on Thursday.

AMREP Price Performance

NYSE AXR opened at $22.20 on Thursday. The company has a market capitalization of $116.99 million, a price-to-earnings ratio of 41.11 and a beta of 0.91. AMREP has a 12 month low of $15.38 and a 12 month high of $24.36. The company’s fifty day moving average price is $19.94 and its two-hundred day moving average price is $21.01.

Insider Activity at AMREP

In other AMREP news, VP Adrienne Uleau sold 1,700 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $20.79, for a total value of $35,343.00. Following the transaction, the vice president now owns 4,334 shares of the company’s stock, valued at $90,103.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder James H. Dahl purchased 10,000 shares of AMREP stock in a transaction dated Friday, May 3rd. The stock was bought at an average price of $20.95 per share, with a total value of $209,500.00. Following the completion of the acquisition, the insider now owns 376,207 shares in the company, valued at approximately $7,881,536.65. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Adrienne Uleau sold 1,700 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $20.79, for a total transaction of $35,343.00. Following the completion of the sale, the vice president now directly owns 4,334 shares in the company, valued at approximately $90,103.86. The disclosure for this sale can be found here. In the last quarter, insiders acquired 33,035 shares of company stock valued at $670,025 and sold 5,366 shares valued at $111,193. Insiders own 37.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AXR. AJOVista LLC bought a new stake in shares of AMREP during the fourth quarter valued at approximately $29,000. Victory Capital Management Inc. acquired a new position in AMREP during the 4th quarter worth $119,000. Empowered Funds LLC grew its stake in shares of AMREP by 8.0% in the first quarter. Empowered Funds LLC now owns 37,772 shares of the business services provider’s stock worth $878,000 after purchasing an additional 2,800 shares in the last quarter. Acuitas Investments LLC increased its holdings in shares of AMREP by 210.9% during the fourth quarter. Acuitas Investments LLC now owns 96,090 shares of the business services provider’s stock valued at $2,111,000 after purchasing an additional 65,184 shares during the period. Finally, Cerity Partners LLC acquired a new position in shares of AMREP during the fourth quarter valued at $2,529,000. Institutional investors 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.